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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Rand - Dollar
14.59
-0.0%
Rand - Pound
20.30
-0.0%
Rand - Euro
17.34
-0.0%
Rand - Aus dollar
10.73
-0.0%
Rand - Yen
0.13
-0.0%
Gold
1,814.19
0.0%
Silver
25.49
0.0%
Palladium
2,662.50
0.0%
Platinum
1,051.86
0.0%
Brent Crude
75.41
+0.4%
Top 40
62,852
-0.9%
All Share
68,971
-0.9%
Resource 10
70,683
-2.0%
Industrial 25
88,051
-0.4%
Financial 15
12,906
+0.6%
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