Peregrine Treasury Solutions

03 Sep 18

Rand Starts Week on Back Foot

The rand is starting the week on the back foot against the dollar, as emerging market currencies again gear up for economic news out of Turkey, while on the local front markets await the release of GDP data on Tuesday. The local currency was changing hands at R14.75/$ at 08:47 on Monday, down 0.5% on the day. It opened at R14.67 to the greenback.

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30 Aug 18

Rand Lunges by Over 2% in Early Trade

The rand fell by almost 2% against the dollar by 10:45 on Wednesday. The local currency opened the day at R14.35/$, and was trading at R14.63 to the greenback by 10:45. It had already lost 1% during trade on Wednesday.

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28 Aug 18

Rand Stable in Early Trade

The rand was on a stable footing in early trade on Tuesday, changing hands at R14.17/$ at 09:45 after opening at 14.16 to the greenback. The local currency was volatile last week, falling and strengthening largely in line with the Turkish lira.

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26 Aug 18

See the Rand's Roller Coaster Ride

It is not easy to predict what the rand will do. Predicting the way the rand will go is like trying to estimate the amount of rainfall in Cape Town next winter, according to Tim Powell, director of Sable International Forex. He explained that the rand weakened due to being dragged along as part of an emerging market "crisis". SA had no control over this trend. The local currency has weakened by about 15% so far this year against the dollar.

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24 Aug 18

Rand Breathes after Hit by Trump

The rand received timely support yesterday from the government's assurance that South Africa’s inclusion in the African Growth and Opportunity Act (Agoa) was not at risk following US President Donald Trump’s canny tweet on South Africa’s land reform process.

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