As the world braced itself for potentially the worst conflict in Europe since World War 2, local markets were resilient as volatile global markets swung into positive territory, signalling confidence that a compromise will eventually be found.
In a volatile day that saw the oil price jump towards $100 a barrel as Russian President Vladimir Putin ordered troops into Ukraine, marking a major escalation in a conflict that’s been brewing for weeks, the rand traded in a 23c range and was 0.48% firmer by 7.45pm. The local currency, which fell 0.3% on Monday as the Russian rouble lost almost 3%, has gained 5.75% so far in 2022...
Source: News Formal (newsformal.com)
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