Data provided by iNet BFA
Loading...
See More

Rand steady, stuck in range

Feb 22 2013 09:14 Reuters
Rands

(picture: Shutterstock) (Shutterstock)

Related Articles

Rand weakens on fears of US data

Rand recovers on German confidence‚ CPI

Rand finds support as miners return

Rand slides on labour unrest

Rand retreats against resurgent dollar

Bonds firmer despite weaker rand

 
Johannesburg - The rand was steady against the dollar early on Friday, lacking direction and likely to end the week within its range of the last two weeks, while government bonds remained supported.

The rand has been broadly stuck in the R8.80 to R9.00 for two weeks, meeting strong support at the R9.0 rand level that it tested but left unbroken all of February.

The local unit managed a brief rally through R8.80 resistance at the end of last week, but the move lacked momentum and rand bulls retreated to R8.90 and above since then.

By 08:47, the rand was at R8.8840/$, slightly firmer but not far off its close in New York on Thursday.

Strong bond-buying by offshore accounts is also providing some support to the currency.

Yields were down to 5.285% on the 2015 note  and 7.23% on the 2026 issue. 

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

rand  |  currencies  |  markets bonds
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
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

10 tips for financial planning

Financial planning is the first step towards a better financial future.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

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