MARKET WRAP: Volatile rand lives up to its reputation with biggest loss in more than two months

The rand, in line with its status among the most volatile currencies, followed up its biggest gain in more than three years with a drop that was the biggest in two months as local politics came back to the fore.

After being as strong as R16.5497, the currency failed to touch the key R16.50/$ level and was by 6:58pm, closer to R17/$. It was eventually 2.1% weaker at R16.9498/$ for its biggest drop since June 11, having gained 2.6% on Friday.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

SA is geared towards international visitors, so domestic market cannot compensateSA Tourism says nearly 440,000 tourism jobs are at risk in 2020, and the sector is expected to lose R80bn in foreign receipts
Fonte: BDliveSA - 🏆 12. / 63 Consulte Mais informação »

SA is geared towards international visitors, so domestic market cannot compensateSA Tourism says nearly 440,000 tourism jobs are at risk in 2020, and the sector is expected to lose R80bn in foreign receipts
Fonte: BDliveSA - 🏆 12. / 63 Consulte Mais informação »

Futuregrowth in fresh battle over new JSE rules on R3-trillion bond marketAsset manager says new rules, which come into effect on Monday, have significant shortcomings
Fonte: BDliveSA - 🏆 12. / 63 Consulte Mais informação »

The US tech sector is now worth more than the entire European stock market, Bank of America saysThe five largest US tech stocks — Apple, Microsoft, Alphabet, Amazon, and Facebook — are worth a collective $7.5 trillion.
Fonte: News24 - 🏆 4. / 80 Consulte Mais informação »