The rand had its best day on Friday since President Cyril Ramaphosa won the race to lead the governing party at the ANC’s 54th national conference in 2017, as the US Federal Reserve’s dovish tone put pressure on the dollar.
At 5.36pm, the rand had firmed 2.8% to R16.5693/$, recording its biggest gain since December 18 2017. It had strengthened 2.02% to R19.7245/€ and 1.63% to R22.1240/£. The euro added 0.71% to $1.1903. The local currency is still down 15.3% to the dollar so far this year.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.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: Rand has best day since Ramaphosa won ANC presidency in 2017The JSE all share fell 1.43% to 56,057.10 points, its worst day in three weeks
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE firms as markets shift focus to US stimulusThe consumer price index accelerated to 3.2% in July from 2.2% in June
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE gains for a second day as markets digest US Fed chair’s speechThe all share gained 0.53% and the top 40 0.63%, with industrials and banks also up
Source: BDliveSA - 🏆 12. / 63 Read more »
Market data - August 26 2020Market data including bonds and fuel prices
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »
Market cap of world's top five carmakers plunges $63bnCovid-19 closures cause combined values of VW, Toyota, Daimler, Ford and GM to plummet
Source: BDliveSA - 🏆 12. / 63 Read more »