The rand was firmer against a slightly softer dollar on Thursday afternoon. The local currency’s gains firmed to an intraday level of R13.31 against the dollar, in subdued trade. Rand Merchant Bank analyst Michelle Wohlberg said the rand’s recent moves had been driven by international factors such as looming interest-rate increases in the US. Nedbank analysts said the level of activity in the local currency market had been particularly low, with local headlines dominated by protests related to a lack of service delivery. At 3.36pm the rand was at R13.3874 to the dollar from R13.4790, R14.5429 to the euro from R14.6440 and at R17.2235 to the pound from R17.4462. The dollar was at 1.0863 to the euro from 1.08666.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.