close menu

The Sable International Rand Report

USD-ZAR AT THE TIME OF THIS REPORT: 12.9173    RANGE FOR THE DAY: 12.90/13.2000

EUR-ZAR 14.4331 | GBP-ZAR 16.4424 | AUD-ZAR 9.78551 EUR-USD 1.11732 | GBP-USD 1.27295


THE MARKETS AND THE RAND

The Rand strengthened on Thursday to close at 12.97, compared to Friday’s close of 13.08, in line with  weakness against some of the major currencies. The Rand lost against the Pound (0.1%), and marginally against the Yen, but gained against the Euro (-0.1%). 

The Rand gained against the Euro (-1.0%), the Pound (-0.8%) and the Yen (0.8%). 

Metal prices were mixed on Thursday. Gold was up by 0.3%, platinum was down by 0.3%, while copper remained largely unchanged on the day. Brent was up by 0.9%, at USD 45.22/bbl.


NEWS HEADLINES

  • The Rand is continuing to hover around the 13.00 mark to the USD. This despite most EM currencies enjoying a strong run thanks to slightly improved commodity prices.
  • The big political news yesterday was that the Constitutional Court ruled that the Speaker of Parliament could order a secret ballot vote on a motion of no confidence. Whether Baleka Mbete decides to do so is an entirely different kettle of fish. Regardless, markets enjoyed this news in much the same way that they do any anti-Zuma developments.


MARKET HEADLINES


Investec Daily Outlook 23 June 2017


Sign up for our daily Rand report.

All the latest currency news delivered to you every morning.

 

Contact our forex team

South Africa

Phone us: +27 (0) 21 657 2153

United Kingdom

South Africa

Regent Square
Doncaster Road
Kenilworth 7708
Cape Town
t: +27 (0) 21 657 2120

United Kingdom

Castlewood House
77/91 New Oxford Street
London
WC1A 1DG
t: +44 (0) 20 7759 7514

Australia

Suite 8.06
9 Yarra Street
South Yarra
Melbourne VIC 3141
t: +613 (0) 86 514 500

Hong Kong

Level 1102
The Lee Gardens
33 Hysan Avenue
Causeway Bay, Hong Kong
t: +852 3959 8681

This site uses cookies, read more or close this notice.