Rand slightly weaker after Reserve Bank’s ‘no-change’ announcement
The local currency gained about 5c shortly after the Bank announced that interest rates would remain as is, but then lost its gains
17 September 2020 - 15:54
The rand initially firmed about 5c against the dollar on Thursday afternoon after Reserve Bank governor Lesetja Kganyago announced the repo rate would remain unchanged at 3.5%, but ultimately lost these gains.
The local currency was 0.47% weaker at R16.347/$ shortly before Kganyago began speaking on Thursday afternoon. Following his announcement, the local currency pared its losses, trading 0.13% weaker at R16.292/$ at 3.10pm...
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.