Rand slips but still holds below R18/$
Key data releases today include the SA Chamber of Commerce and Industry’s business confidence number for November
10 December 2024 - 11:40
The rand was marginally weaker on Tuesday morning but remained steady below R18/$. According to Matete Thulare, RMB’s head of forex execution, the rand’s performance, along with the overall better emerging-market performance, was driven primarily by a firmer gold price.
“This followed the Chinese central bank’s resumption of gold purchases after a near six-month break. Additionally, China’s announcement of a potential shift in monetary policy as early as next year, aimed at boosting the economy, also contributed to the better performance,” said Thulare...
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