The rand was slightly firmer on Monday afternoon as the euro recorded further gains against the dollar. Trading volumes were thin as US markets were closed for Martin Luther King Day. The local market continues to await new developments on the political front, regarding the position of President Jacob Zuma as head of state, with some guidance probably due to emerge after the ANC national executive committee meeting on Thursday. At 3pm the rand was at R12.2915 to the dollar from R12.3618, at R15.0772 to the euro from R15.0852 and at R16.9481 to the pound from R16.9849. The euro was at $1.2266 from $1.2195. Major risk-events this week include the outcome of the Reserve Bank’s monetary policy committee meeting, which ends on Thursday. Economists expect the committee to keep interest rates unchanged, despite the recent gains in the rand. The euro rose to another three-year high against the dollar, Dow Jones Newswires reported. It is now up 2% on the dollar in 2018, after gaining 14% in ...
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.