Sa Economy, Rand Report, Rand

Sa Economy, Rand Report

Rand hits new 11-month low, stocks firm

Rand hits new 11-month low, stocks firm

8.8.2019

Rand hits new 11-month low, stocks firm

Poor economic data, worries about financial troubles at state-owned power firm Eskom and negative commentary from credit rating agencies have all contributed to recent rand weakness.

President Cyril Ramaphosa, who has staked his reputation on reviving Africa’s most developed economy, has struggled to do so. Data showed on Thursday that mining and manufacturing output contracted on a year-on-year basis in June.

Local stocks had slipped over 2% to two-month lows.

South African e-commerce giant Naspers rose 2.37% to R3,449.99.

Read more: Eyewitness News

Phakama Ramaphosa jou Poes..waar is jy?

Rand lingers at 11-month low in global risk-off environmentThe local currency tested R15.20/$ earlier on Thursday

Rand lingers at 11-month low in global risk-off environmentThe local currency tested R15.20/$ earlier on Thursday

Eskom knocks randThe rand took a beating after Moody's issued a report painting a bleak picture of Eskom's financial results. This is what people wanted when they voted ANC/EFF. The doubling down of failing nationalisation and socialist policies. Oh water is wet someone's mood out there is not ok.

Boy, 11, caught near Cape Town school with gun in handAllegations are that the child was sent to attack another child at the school, and threatened a teacher in the process, the community safety MEC said.

BRIAN KANTOR: How best to cope with unwelcome rand weaknessAny confident sense that SA can address its structural weaknesses will bring immediate reward in the form of lower interest rates and inflation

Rand firmer but tests R15/$ on trade war jittersThe local currency is stronger as investors await new developments in the escalating trade war between the US and China The Nene-Barrier holds strong

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