Publications
Partners
Johannesburg - The rand remained softer against the dollar in late afternoon trade on
Thursday as the Monetary Policy Committee (MPC) of the SA Reserve Bank
(Sarb) delivered its decision to keep the repo rate unchanged.
The local currency was also tracking a euro that had been weakened by mixed eurozone data and comments from the OECD.
"The MPC decision was a non-event," Anton Grobbelaar, managing director of Peritus Forex Solutions said.
"Rand softness is being driven by the weakness of the euro and today's trade has been all about the strength of the dollar," he added.
At 18:00 local time, the rand was bid at R7.7438 to the dollar from its previous close of R7.6711. It was bid at R10.2734 to the euro from R10.2138 before, and at R12.3225 against sterling from R12.1803 previously.
The euro was bid at $1.3264 from its previous close of $1.3315.
Meanwhile Dow Jones Newswires reported that the euro had fallen against the dollar in late European trading after a "sleepy" start to the session, while the Australian dollar remained under pressure amid questions over whether the country's central bank would cut interest rates at its meeting next week.
The local currency was also tracking a euro that had been weakened by mixed eurozone data and comments from the OECD.
"The MPC decision was a non-event," Anton Grobbelaar, managing director of Peritus Forex Solutions said.
"Rand softness is being driven by the weakness of the euro and today's trade has been all about the strength of the dollar," he added.
At 18:00 local time, the rand was bid at R7.7438 to the dollar from its previous close of R7.6711. It was bid at R10.2734 to the euro from R10.2138 before, and at R12.3225 against sterling from R12.1803 previously.
The euro was bid at $1.3264 from its previous close of $1.3315.
Meanwhile Dow Jones Newswires reported that the euro had fallen against the dollar in late European trading after a "sleepy" start to the session, while the Australian dollar remained under pressure amid questions over whether the country's central bank would cut interest rates at its meeting next week.
