Guiding consumers since 2009

Rand lost in listless market

By Staff Writer

By Evan Pickworth, Business Report

A sideways Dow overnight was a key factor behind the stable start, according to analysts.

By 8.47am the rand was bid at R8.1100 to the dollar from its previous close of R8.0850. It was bid at R12.7520 to the euro from a previous R12.7924 and at R16.0913 against sterling from R16.0280 before.

The euro was bid at $1.5673 from $1.5762 overnight, while gold was quoted at $908.25 per ounce from $915.65 overnight.

A stable dollar-euro, slightly better trade deficit locally, a more or less sideways Dow and no clear indication of movements in Zimbabwe have all combined to place the rand into a stable range, according to analysts.

"We do get some event risk late this afternoon with the release of the US ISM data. Watch also local credit data tomorrow along with Bernanke's address to congress," said market analysts.

The rand is expected to trade at between R8.05/08 and R8.16 for the day.
 

Recent Articles

Featured Fuel rewards programme – how to fill up on petrol and points

South Africa’s volatile economy has often meant that factors like the fuel price bear the brunt. This year alone the country’s fuel price has fluctuated by between R1.50 to almost R3, which has put increasing pressure on motorists. That said, many of the bigger South African brands have provided some relief by way of fuel rewards programmes.

Are you entitled to your spouse’s pension after divorce?

Divorce means more than just parting ways with your partner. It may also involve parting ways with your assets. The Divorce Act states that your retirement fund forms part of your assets. This means that it will be considered when dividing up your assets.

Retrenched – which payments are you entitled to?

In the current struggling economic climate, retrenchments are a regular occurrence and not everyone survives the cut. If you find yourself on the receiving end of retrenchment you may have questions about the payments that are due to you.

Do you want to settle your debt?

You may be considering settling your credit account, whether it’s a credit card or various store accounts, now may be as good a time as any. This especially if you have saved, or you received a tax return or salary bonus. 

Deals

Builders Black Friday Special

Price: R5000
When: Until 29 November 2019
Where: Online

Café Rousse Monday Special

Price: Available on request
When: Mondays
Where: Nationwide

Skye Bar Mojito Special

Price: R55
When: Until 31 December 2019
Where: Johannesburg