• Future imperfect

    A lack of compassion with ordinary people is crucial to SA’s failures, says Mandi Smallhorne.

  • Will Gordhan be fired?

    An economist ponders the top question concerning those who control international capital flows.

  • Terry Bell's Inside Labour

    The economic policy pendulum seems to be swinging away from laissez-faire to regulation.

All data is delayed
See More

Rand ticks up in early trade

Nov 09 2012 10:49
Johannesburg – The rand showed a firmer bias in early trade on Friday after sliding more than 10 cents to the US dollar on Thursday on a combination of factors that included downbeat domestic mining and manufacturing data.

At 08:49‚ the rand was bid at R8.6832/$ from Thursday’s close of R8.7034. It was bid at R11.0973/€ from its previous close of R11.0873 and at R13.9025/£ from R13.8956 before.

The euro was bid at $1.2780 from Thursday’s close of $1.2740.

“South African fundamentals are again at play for the rand‚” RMB analysts said in a note.

“Poor manufacturing and mining data showed the effect of the strikes and took USD/ZAR to 8.74‚” RMB said.

The bank said trading next week could be affected by the vote of no confidence in President Jacob Zuma.

“For now‚” RMB said‚ “USD/ZAR looks to drop back to under the 8.70 level‚ tracking a weaker dollar‚ all well within the multiday range of 8.60–80.”
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
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