Rand steady in early trade as SA readies for Women's Day | Fin24
 
  • Credit Rating

    Moody's has (again) said that weak state-owned entities are a risk to SA's sovereign credit rating.

  • SARS Inquiry

    Judge Nugent has recommended the president sack suspended SARS boss Tom Moyane.

  • Nene Rand Rollercoaster

    Simon Brown says savvy investors worked out how the rand would react to uncertainty at Treasury.

Loading...

Rand steady in early trade as SA readies for Women's Day

Aug 08 2018 11:05
Jan Cronje

The rand was steady in early trade on Wednesday, after opening at R13.33 to the dollar. 

The local currency was trading at R13.35 at 11:01. 

On Tuesday the local currency gained 12c against the dollar, on the back of a strengthening Chinese Yuan which helped China's fellow emerging market currencies strengthen.  

The dollar index, which tracks the currency's strength against a basket of currencies of its major trading partners, was also about level at 10:34 at 95.229 index points, after opening at 95.150. 

Bianca Botes of Peregrine Treasury Solutions said in a morning note that trade was expected to be relatively quiet as South Africa prepared for Women's Day on Thursday. 

On the data front, Botes said the key local release was the SACCI Business Confidence Index for July, expected to be out around 13:00.

NKC African Economics, meanwhile, estimated the rand’s expected range at between R13.20/$ - R13.40/$ on Wednesday. 

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

Follow Fin24 on Twitter and Facebook. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

women's day  |  currencies  |  rand  |  markets
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

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

Voting Booth

The appointment of Tito Mboweni will:

Previous results · Suggest a vote

Loading...