Share

Rand hits lowest level of the year

The Rand had a rocky showing against the dollar on Thursday, trading at R14.73 to the greenback by 17:30 on Thursday afternoon, its lowest point for the year so far.

The currency followed the lead of those in other emerging markets, according to TreasuryONE.

"For the Rand, today's trading was a bit topsy turvy, with the Rand trading quite erratically within a 15 cent band. The Rand looked odds on to break below the R14.6000, but taking its cue from other [emerging markets] with the risk-off sentiment still evident, [it] weakened with other EM peers and tested the R 14.7500 level," TreasuryONE said in a note to clients on Thursday afternoon. 

"Across the commodity space, it was a quiet day with not a lot to write home about. Looking at this evening, we expect the Rand to be on the back foot still, due to the current sentiment in the market and we could have a fresh test of R14.75," the note added.

The currency's performance comes at the end of a week punctuated by market jitters over the impact of the coronavirus outbreak in China, as well as its spread to other countries.

Compiled by Khulekani Magubane

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.88
+0.3%
Rand - Pound
23.82
+0.4%
Rand - Euro
20.38
+0.3%
Rand - Aus dollar
12.30
+0.3%
Rand - Yen
0.12
+0.3%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders