for subscribers

Robust rand recovers 2016 losses ahead of budget

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Cape Town – The rand has recovered the losses it incurred since the start of the year, after dramatically low oil prices and a rout in the Chinese markets rocked the local economy.

After closing at R15.46/$ on Wednesday evening, the rand fluctuated between that figure and R15.49 on Thursday morning.

This comes off higher than expected inflation figures of 6.2% released on Wednesday, which proved that the SA Reserve Bank was correct in its 50 basis-point hike and that more will follow, according to independent treasury specialist to corporates, Adam Phillips of Umkhulu Consulting, on Thursday.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.31
(+0.32)
ZAR/GBP
20.44
(+0.27)
ZAR/EUR
18.18
(+0.19)
ZAR/AUD
11.23
(-0.12)
ZAR/JPY
0.15
(+0.58)
Gold
1803.69
(-1.76)
Silver
23.10
(-1.71)
Platinum
957.74
(+3.23)
Brent Crude
45.51
(+2.15)
Palladium
2338.79
(+0.53)
All Share
57761.92
(+1.08)
Top 40
53049.43
(+1.09)
Financial 15
11674.99
(+2.97)
Industrial 25
80126.12
(+0.26)
Resource 10
52568.48
(+1.54)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
22% - 318 votes
No, I did not.
51% - 751 votes
My landlord refused
27% - 405 votes
Vote