Head Topics

Rand strengthens slightly against US dollar in early JSE trade - SABC News

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 51%

South Africa Headlines News

South Africa Latest News,South Africa Headlines

The rand has strengthened nearly 1% in early JSE trade to R18.93 to the US dollar. This after having traded as weak as R19.90 to the dollar at the end of May, which was an all-time low.

Image: ReutersHowever, the stronger rand is also due to profit-taking, as it has become oversold and is experiencing a correction to stronger levels.

The fact that South Africa’s economy has avoided a recession for now after a GDP of 0.4% in the first quarter is underpinning the rand, adding to its strength in early trade today.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 37. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rand weakens on Wednesday[CURRENCY] At 11:30, the rand traded at R19.16 against the dollar, after investors warned that the outlook for Africa’s most industrialised economy remained bleak despite marginal economic growth in the first quarter. Moneyweb Currency
Source: Moneyweb - 🏆 5. / 77 Read more »

Rand firms below R19/$ as power cuts easeThe rand strengthened below R19 to the US dollar for the first time in three weeks on Wednesday, as a weakening greenback and an easing of rolling power cuts boosted the currency.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Rand back below R19/dollar on better sentiment[CURRENCY] South Africa’s rand is back below R19 to the US dollar, buoyed by better sentiment locally. Moneyweb Currency NtandoThukwana
Source: Moneyweb - 🏆 5. / 77 Read more »

MARKET WRAP: JSE and rand gain on GDP dataEconomy proves resilient in the first quarter despite intense load-shedding, led by manufacturing
Source: BDliveSA - 🏆 12. / 63 Read more »

Investor pleads for JSE buybackThe halving in the exchange’s share price over the past decade is driving increasingly strident calls for it to repurchase its own stock.
Source: FinancialMail - 🏆 20. / 63 Read more »

GovChat loan sinks Capital Appreciation's earningsThe loan advanced to citizen engagement platform GovChat has negatively impacted the earnings of JSE-listed fintech group Capital Appreciation. RetailTechnology GovChat CapitalAppreciation FinTech EldridJordaan DarielSolutions Facebook
Source: ITWeb - 🏆 45. / 51 Read more »