Peregrine Treasury Solutions
Analysts were not surprised at the decision of the Reserve Bank's monetary policy committee (MPC) to keep interest rates at 6.75%. Following the news from the first monetary policy committee (MPC) meeting of the year, the rand strengthened to R12.20/$, noted Bianca Botes of corporate treasury management at Peregrine Treasury Solutions.Read More
The world’s most volatile currency is strengthening against the dollar for a fourth day, closing in on a 30-month high, amid optimism Cyril Ramaphosa’s election as the ruling-party chief will pave the way for policies promoting growth and investment. Yet, investors remain on the edge as they await Thursday’s interest-rate decision, February’s budget speech and a sovereign rating assessment by Moody’s Investors Service by the end of March.Read More
Cape Town - The rand broke below the R12.30/$ level on Tuesday morning, and even tested R12.20 to the US currency. By late morning it was at R12.24/$. The last time the local unit was at the R12.20 level was around June 2015. Bianca Botes of corporate treasury management at Peregrine Treasury Solutions said the rand breaking through the key support level of R12.25 briefly, touching on R12.20, was mostly driven by "political noise" coupled with the weaker dollar and strong commodity prices.Read More
Rand Remains Range Bound, JSE Advances
JOHANNESBURG - The Rand firmed slightly during intraday trade yesterday but remained range bound as the market continued to look to the ANC for clues on President Jacob Zuma’s fate.Read More
Has the Rand Gone too Far?
The currency has just completed a so-called “golden cross”, signaling an extension of the gains versus the dollar on the back of market-friendly swings in national politics. But it has come up against another hurdle, which it briefly cleared on Tuesday before falling back.Read More