All data is delayed
See More

Rand remains firm in midday trade

Jan 28 2013 12:38
I-Net Bridge
Johannesburg – The rand was stable at midday on Monday‚ but remains vulnerable to increased selling pressure as a result of fears over domestic risks.

At 11:30‚ the rand was bid at R8.9412/$ from R8.9422 at Friday’s close and R9.0686 at Thursday’s close. The local currency was bid at R12.0150/€ from its previous close of R12.0350 and at R14.0595 against sterling from R14.1187 before.

The euro was bid at $1.3448 from Friday’s close of $1.3465 and Thursday’s close of $1.3367.

ABSA Capital said in a note that although the rand remained vulnerable in the near term to SA-specific risks such as labour unrest‚ a lot of the negative domestic news flow was likely to already be priced into the local unit. 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

rand  |  currencies



Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote