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Rand strengthens to R13/$ on Mining Charter suspension, US data

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Johannesburg – The rand strengthened as much as R13.01 to the US dollar on Friday afternoon.

Analysts say this could be a combination of Mines Minister Mosebenzi Zwane halting the implementation of the contested Mining Charter and movements in the US data.

According to Treasury One, the US consumer price index was at 0.1% month-on-month, compared to the 0.2% markets expected. US retail sales fell 0.2% in June. The dollar weakened, which was positive for emerging market currencies.

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ZAR/USD
17.63
(-0.14)
ZAR/GBP
23.01
(-0.05)
ZAR/EUR
20.78
(-0.04)
ZAR/AUD
12.62
(-0.03)
ZAR/JPY
0.17
(-0.02)
Gold
2034.21
(+0.05)
Silver
28.28
(+0.09)
Platinum
961.50
(+0.38)
Brent Crude
44.55
(-1.53)
Palladium
2166.01
(+0.63)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
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