Share

Rand stable above R12/$ as geopolitics again sets tone for emerging markets

Cape Town - The rand was steady in early trade on Monday morning, changing hands at R12.07 to the dollar at 08:35. 

At close on trade on Friday, it was quoted at R12.08 to the greenback. 

"Geopolitics remains the key focus as we head in to the week, with specific emphasis on western military action in Syria and renewed conflict between the US and Russia," said Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions:

The US Treasury is set to it impose fresh sanctions on Russia on Monday related to its involvement in Syria’s use of chemical weapons, according  to US United Nations Ambassador Nikki Haley.

Botes said the US/Russia dispute could see the greenback come under pressure as markets becomes jittery.

NKC African Economics said that no major economic data releases were scheduled on Monday. It expects the local currency to trade in a range between R11.90/$ - R12.15/$. 

The price of gold, meanwhile, ticked up on Friday and rose marginally in Monday's early Asian trading session.


* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

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
23.85
+0.2%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.31
+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