Peregrine Treasury Solutions

07 Sep 18

Rand Now See-saws to Gain 1.4% Against the Dollar


he rand has been a tough challenge for market watchers to predict this week, at one point threatening to break R16.00/$ with international trade disputes, emerging market weakness, SA’s technical recession, dollar strength and land reform all in the mix. But after weakening by as much as 6.5% against the dollar by mid-week, the local currency started to firm Thursday. On Friday at 10:52 it was trading 1.4% stronger against the dollar at R15.11. It opened the day’s trade at R15.33.

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06 Sep 18

Rand Firms by 1%, Still in 'Treacherous Terrain'


The rand strengthened by 1% against the greenback in early trade on Thursday, one of the first signs of good news in what has been a tumultuous week for the local currency. The rand opened at R15.42/$, and after initially weakening, firmed by 1% to change hands at R15.27 to the greenback by 11:11.

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04 Sep 18

Rand Piles on Losses as SA Enters Recession


After starting the week on the back foot, the rand continued to fall in early trade on Tuesday following the announcement by Stats SA that the country was in a technical recession. The local currency, which lost 1.5% against the dollar at the start of the week, ended Tuesday at R15.34/$.

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04 Sep 18

Rand Extends Losses as SA Slips into Technical Recession


The rand extended losses at lunchtime on Tuesday, after the South African economy slipped into a technical recession, striking a severe blow to the "new dawn" narrative championed by President Cyril Ramaphosa. The rand fell as much as 2.5% to R15.26 to the dollar, its weakest level in about three weeks, making it the worst performer among emerging-market currencies on the day.

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04 Sep 18

Rand Plunges on Recession Shock


The rand fell as much as 3% on Tuesday as the economy slipped into a technical recession in the second quarter and missed economists’ expectations. At 1600 GMT, the rand traded 2.82% weaker at R15.30 versus the dollar. The economy contracted by 0.7% in the second quarter, pushing the country into recession after a revised 2.6% contraction in the first quarter, data from Statistics South Africa showed.

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