All data is delayed
See More

Rand strengthens on Chinese optimism

Dec 05 2012 16:45
I-Net Bridge
Johannesburg – The rand strengthened on Wednesday afternoon after comments from China spurred optimism of potentially higher economic growth in the world’s second-biggest economy.

“The rand is stronger today on stronger commodity prices caused by comments made in China about targeting policies to improve economic growth in the country‚” said Viv Govender‚ a market analyst at Vunani Capital.

At 15:45‚ the rand was bid at R8.7758/$ from Tuesday’s close of R8.7856. The local currency was bid at R11.4578/€ from its previous close of R11.5021 and at R14.1187 against sterling from R14.1374 before.

The euro was bid at $1.3068 from Tuesday’s close of $1.3098.
rand  |  dollar  |  euro  |  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