MARKET WRAP: Rand firms as investors mull Reserve Bank decision
The Bank’s monetary policy committee kept the repo rate at 3.5% while it revised the GDP forecast to a contraction of 8.2%
The rand gained for a fifth day on Thursday as markets digested the SA Reserve Bank’s decision to keep interest rates unchanged.
At 5.55pm, the rand had firmed 0.28% to R16.2260/$ reaching R16.17/$ earlier in the day, its best level since March. It had strengthened 0.20% to R19.1868/€ and 0.28% to R21.0126/£. The euro had firmed 0.11% to $1.1825.