Share

Rand steadies, market awaits rates announcement

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
loading...
Loading, please wait...

Johannesburg - The rand was largely steady on Monday, with direction likely to be driven by global market moves as investors speculate on the timing of policy tightening in the United States.

On the domestic front, market players anticipated few ripples from the South African Reserve Bank's interest rate decision on Thursday, where the benchmark repo rate will likely stay unchanged at 5.75%.

At 08:31, the rand was just 0.16% softer at R12.0300/$ compared with Friday's close at the New York session.

Government bonds edged higher, pulling the yield on debt due in 2026 half a basis point lower to 7.735%.

"Euro/dollar remains the main market driver, not just of global currencies but increasingly also of interest rates, as markets digest whether Fed (US Federal Reserve) tightening will be delayed because of the dollar’s remarkable gains," RMB analyst John Cairns said.

Read this for free
South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
Try our free 14-day trial
Already a subscriber? Sign in
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.0%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.34
+0.0%
Rand - Yen
0.13
-0.1%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
87.00
+1.8%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders