Rand firms below R8.9 to the dollar

Comment on this story


IOL world currency1

Graphic: Renjith Krishnan.

The rand gained further ground against leading currencies in late trade on Friday‚ breaking below R8.90 to the US dollar‚ tracking a firmer euro/US dollar.

At 3.56pm‚ the rand was bid at R8.8946 to the US dollar from Thursday’s close of R8.9335. The local currency was bid at R11.4928 to the euro from its previous close of R11.4878 and at R14.1720 against sterling from R14.2272 before. The euro was bid at $1.2928‚ from Thursday’s close of $1.2873.

The euro vs greenback strength was supported by a stronger-than-expected monthly survey of German businesses by the Ifo Institute‚ Dow Jones Newswires reported.

The closely-watched Ifo business confidence index rose to 101.4 in November from 100.0 in October‚ the first rise after six straight months of decline. - 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.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks

Business Directory