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Rand reverses losses to end day 1% stronger against dollar

Jan 03 2019 19:06
Jan Cronje, Fin24

After falling to a three-month low against the dollar earlier on Thursday, the rand clawed back its losses to end the day over 1% firmer against the greenback.

The local currency opened the day at R14.46/$ and fell to a intraday low R14.70/$ before starting to firm.

It ended the day at R14.30 to the greenback, up 1%. 

The rand rally came about in part due to dollar weakness, with the dollar spot index - its value relative to a basket of six foreign currencies of its trading partners - at 96.30 at 18:45, down 0.52% on the day.

The JSE All Share index, meanwhile, ended Thursday up 0.79%, with all major indices posting gains.

rand  |  markets  |  currencies


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