Categories: Crypto NewsNews

Stocks soar as the Rand gains strength against the dollar

Published by
Nonhlanhla P Dube

The rand was trading at R17.00 to the dollar in early trade, up 0.34 % from its previous close.
Early on Monday, the rand rose as the safe-haven dollar dipped from multi-year highs.

The rand was trading at R17.00 against the dollar at 7:31 GMT, up 0.34% from the previous close.

The US dollar index, which compares the greenback to six major competitor currencies, fell 0.39 % to 107.45.

On a note, economists at ETM Analytics predicted that until a new catalyst materializes, the rand’s value against the dollar would remain stable around the R17.00 level.

The Top-40 index and the larger all-share index both increased by more than 2% in early trading on the stock market.

Early sales on the government’s benchmark 2030 bond were flat, with a yield of 10.965 %.

Share
Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Published by
Nonhlanhla P Dube
Tags: rand
%%footer%%