• Retribution will come

    Those who now pay the price for opposing a corrupt system shall rise again, says Solly Moeng.

  • Ego - the enemy within

    Successful people are humble in their aspirations and resilient in failure, says Ian Mann.

  • You can’t eat dust

    We should insist on products that save our soil and ensure food security, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Rand strengthens on US holiday

Nov 12 2012 10:38
I-Net Bridge
Johannesburg – The rand strengthened against the US dollar on Monday morning as US markets were closed for a public holiday.

“Now that the US presidential election and Greek austerity vote are out of the way‚ participants are firmly focused on how the US fiscal cliff issue is likely to pan out‚” Absa Capital said in a note.

“Today is a public holiday in the US‚ but all eyes will be on US policy makers for the remainder of the week and for a number of weeks thereafter in order to see how America will handle its debt burden.”

At 08:22‚ the rand was bid at R8.6787/$ from Friday’s close of R8.6935. The local currency was bid at R11.0502/€ from its previous close of R11.0676 and at R13.8116/£ from R13.8327 before.

The euro was bid at $1.2729 from Friday’s close of $1.2722.

RMB said in a note on Monday: “Greece remains a concern. The country is unlikely to get its next aid tranche approved at today’s eurozone finance ministers’ meeting‚ raising questions on how it will repay the EUR5 billion it owes to the ECB (European Central Bank) at the end of the week.”

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

rand  |  currencies

 
 
 

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

Money Clinic

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

Voting Booth

Do you use all your downloaded apps on your smartphone?

Previous results · Suggest a vote

Loading...