Peregrine Treasury Solutions

08 Aug 18

Rand Steady in Early Trade as SA Readies for Women's Day


The rand was steady in early trade on Wednesday, after opening at R13.33 to the dollar. The local currency was trading at R13.35 at 11:01. On Tuesday the local currency gained 12c against the dollar, on the back of a strengthening Chinese Yuan which helped China's fellow emerging market currencies strengthen.

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07 Aug 18

Weak Rand Could be Great for Manufactured Exports


The rand opened about 0.5 percent weaker on Tuesday, trading near the R13.40 mark before strengthening to R13.28 during intraday trade. However, it is not all doom and gloom as analysts reckon the domestic currency’s weaker level could impact positively on manufactured exports, despite the dim outlook for the manufacturing sector, which rose only 0.7 percent year on year in June. Corporate treasury manager at Peregrine Treasury Solutions, Bianca Botes, said overall the emerging market picture was gloomy, while South Africa’s outlook is further smeared with local elements such as failing state-owned entities, renewed policy uncertainty as well as sluggish economic growth.

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03 Aug 18

Rand Topples Off 'Pedestal' after Ramaphosa's Land Reform Announcement - Analyst


The rand started Friday trade at R13.46/$ - more than 2% weaker than at its close on Tuesday evening, with market bias once again tipping the scale towards weakness, says Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions. She said the rand started the week on a good footing, with most analysts anticipating a move towards R13.00/$. "However, the rand fell off its pedestal with very little grace in the wake of Predident Cyril Ramaphosa's announcement on land reform, the overpowering global economic backdrop and, of course, the troubles in Turkey," she commented on Friday.

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03 Aug 18

Rand and Domestic Stocks Take a Pounding


The increasingly hawkish tone of the US Federal Open Market Committee (FOMC) meeting added to the rand’s woes yesterday, sending the currency to its weakest against the dollar in two weeks. In early trade the domestic currency reversed some of Wednesday’s losses following a brief spike to R13.37 to the dollar after President Cyril Ramaphosa announced that the ANC would back the expropriation of land without compensation vote.

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01 Aug 18

Rand Hits Seven-week High, JSE Advances


The rand raced to a seven-week high against the dollar yesterday bolstered by data showing a better than expected trade surplus in June, while stocks ended higher. At 5pm, the rand bid at R13.0946 to the dollar, 4.99cents stronger than at the same time on Monday, about 0.49percent firmer than its close on Monday and its strongest level since June11, according to Thomson Reuters data.

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