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To expect rand recovery would be 'foolish' - analyst

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Cape Town – Although the rand traded in a stable range of 19c on Thursday, it would be foolish to expect a recovery to take place now, according to TreasuryOne dealer Phillip Pearce. 

The rand traded 0.12% lower at R13.74 to the dollar at around 10:00 on Friday, and Pearce was of the view that the currency would trade between R13.65 and R13.90 for the rest of the day. 

“We should see how the nationwide protest unfolds today as well as the build up to the no-confidence debate on April 18.” 

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