CURRENCIES
Rand breaks R14.20/$ for first time since early 2020
Local currency at 15-month high could mean record low rates for longer
15 April 2021 - 23:22
The rand jumped to a 15-month high against the dollar as the country’s yield advantage and higher commodity prices boosted sentiment towards local assets, making it more likely that the Reserve Bank will be able to support the economy with record low interest rates even as US yields climb.
The SA currency is the only one among its emerging-market peers to rise against the greenback in 2021, up 3.68%. Its R14.17 closing level on Thursday marked a sharp reversal of losses that pushed it to a two-month low just five weeks ago...
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.