The rand was flat early on Friday, as investors were reluctant to price more risk into local markets. “The rand has stabilised and has recovered once more from its weakest levels for the second consecutive trading session, while bonds have similarly recovered some lost ground,” ETM Analytics said in a note.
Global watchdog the Financial Action Task Force , which sets standards on combating money laundering and illicit financing, could add South Africa to its “grey list” on Friday. Being added to that list would be a reputational knock for South Africa and could hurt local asset prices, as grey-listed countries are subject to greater monitoring by the FATF on concern that they are at higher risk for money laundering and terrorist financing.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: News24 - 🏆 4. / 80 Read more »
MARKET WRAP: Rand snaps losing streak after ‘surprise-free’ budgetBonds were also firmer on news of a R254bn debt relief package for Eskom, while the JSE lost ground as the Fed prepares to release the minutes of its most recent meeting
Source: BDliveSA - 🏆 12. / 63 Read more »