• The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

  • Losing the plot

    Parastatal leaders have lost focus of what they're supposed to do, says Nonkululeko Gobodo.

All data is delayed
See More

Rand weaker as mining unrest weighs

Oct 08 2012 09:27

Company Data


Last traded 201
Change 2
% Change 1
Cumulative volume 91129
Market cap 0

Last Updated: 25-11-2015 at 11:44. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Rand in vicious circle

Rand slumps due to strikes

Rand under pressure, eyes 3-yr low

Strikes dent rand

Rand hammered to 3-1/2 year lows

Rand recovers on Marcus' comments


Johannesburg - The rand remained near a three-and-a-half year low on Monday and analysts said it could weaken further in the absence of a resolution to a wave of strikes roiling Africa’s biggest economy.

The rand was trading at R8.800 to the dollar at 07:01 GMT on Monday, barely changed from Friday’s New York close of R8.7900.

On Friday, it slumped to as low as R8.85 to the dollar, its weakest level since April 2009, after Anglo Platinum [JSE:AMS] said it had fired 12 000 wildcat strikers.

Analysts said the rand could weaken to as low as R9.00 to the dollar unless measures were taken to limit some of the worst labour unrest since the end of apartheid in 1994.

“The market is trading purely on emotion and sentiment,” said Garth Klintworth, head of fixed income, commodities and currencies at Absa Capital.

“Either we get some strong leadership from trade unions or government or business that improves sentiment or we continue to see very poor sentiment and weakness relative to the dollar. Technically, we could easily get to R9.20.”

Government bonds continued to sell off on Monday, with the yield on the 2015 bond up 8 basis points to 5.51%.

That on the 2026 paper was 15 basis points higher at 7.81%, its highest level since July.

* Follow Fin24 on TwitterFacebookGoogle+ and Pinterest.

bonds  |  rand  |  markets


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

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

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

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote