• Inside Labour

    Terry Bell looks at the issues of poultry, poverty and desperation.

  • A new ANC sweeper?

    Have the Guptas' new auditors mastered how to look the other way on cue, asks Solly Moeng.

  • Strategy for the big boys

    Formulating strategy across the span of huge companies is a marathon, says Ian Mann.

All data is delayed
Loading...
See More

Rand slides after poor trade data

Nov 30 2012 19:12
I-Net Bridge
Johannesburg – The rand lost ground against major currencies in late trade after the release of disappointing domestic trade data‚ wiping off all its gains of the week.

At 15:41‚ the rand was bid at R8.8720/$ from Thursday’s close of R8.7842. The local currency was bid at R11.5054 to the euro from its previous close of R11.3883 and at R14.1817 against sterling from R14.0771 before.

The euro was bid at $1.2971‚ unchanged from its previous close.

A weaker rand boosts SA’s competitiveness and dollar earnings‚ but it may spur inflation at a time when the economy is slowing down.

The deficit on SA’s trade account continued to deteriorate in October‚ with the account recording its 10th consecutive deficit for trade with non-Southern African Customs Union trading partners.

A R21.2bn deficit was recorded in October‚ following a R13.8bn deficit in September‚ SARS customs and excise figures released on Friday showed.
rand  |  dollar  |  euro  |  currencies

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com 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
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

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

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...