• SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

  • Zim tastes people power

    Protests in Zimbabwe are forcing Mugabe to face anti-government sentiment, says Memory Mataranyika.

  • Platinum handshake

    Officials who try to do what's right risk far more than blessed wrongdoers, says Solly Moeng.

All data is delayed
Loading...
See More

Rand weakens‚ eyes inflation data

Dec 11 2012 20:19
I-Net Bridge
Johannesburg – The rand weakened on Tuesday afternoon as traders eyed local inflation data for direction.

“We saw some local data (retail sales) which was worse than expected but it had no or very little impact on local markets. We are looking forward to tomorrow’s inflation data‚” said Viv Govender‚ a market analyst from Vunani Capital.

At 15:17‚ the rand was bid at R8.6800/$ from Monday’s close of R8.6679. The local currency was bid at R11.2741/€ from its previous close of R11.2120 and at R13.9551 against sterling from R13.9196 before.

The euro was bid at $1.2991 from Monday’s close of $1.2935.

“The rand is approaching a strong ’business level’. We haven’t been able to break the R8.60 level since October this year. If we go through that level we could see the rand strengthen to as much as R8.200 against the dollar‚” Govender said.
rand  |  dollar  |  euro  |  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

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

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

Voting Booth

Sarb's decision to keep the repo rate unchanged is:

Previous results · Suggest a vote

Loading...