MARKET WRAP: Rand firms to best levels in 10 months on better than expected GDP figures
The all share lost 0.62% and the top 40 0.70%, tracking weaker global markets
08 December 2020 - 19:13
The rand firmed to its best levels in more than 10 months as investors digested better than expected local GDP figures, while concerns about spikes in Covid-19 cases and uncertainty around a US stimulus package weighed on global sentiment.
The local currency broke below R15/$ on the day for the first time since February 21. At 5.16pm, the rand had strengthened 0.98% to R14.9979/$, 0.93% to R18.1729/€ and 1.18% to R19.9876/£. The euro was little changed at $1.2115. The rand is down 13.62% so far in 2020...
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