Amplats keeps rand under pressure

Comment on this story
IOL world currency1 Graphic: Renjith Krishnan.

The rand remained under pressure from major currencies on Wednesday afternoon as fears over strike action following Amplats plans to suspend some of their operations.

“In recent days we’ve seen a lot of negative international press around the mining industry. There doesn’t really seem to be anything to counter the negative publicity and we’re not seeing that from government‚” said Kevin Ling‚ chief economist at Stanlib.

At 3.46pm‚ the rand was bid at R8.8455 to the US dollar from R8.8048 at Tuesday’s close. The local currency was bid at R11.7380 to the euro from its previous close of R11.7112 and at R14.1334 against sterling from R14.1474 before.

The euro was bid at $1.3272 from Tuesday’s close of $1.3309. - I-Net Bridge

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines