JOHANNESBURG - The rand remained subdued during the European session on Thursday as sentiment was hit by geopolitical developments and uncertainty regarding the outlook for global trade according to NKC Research.
An attack on oil tankers in the Gulf of Oman, raised concerns over disruptions to crude flow through a key global shipping route. Meanwhile, weak domestic data releases weighed on the local unit, while an investigation into President Ramaphosa’s campaign donations for the 2017 ANC leadership race unnerved investors. At the close of local trade, the rand quoted 0.2 percent stronger at R14.88/$, after trading in range of R14.82/$ - R14.93/$. The rand traded flat overnight. Expected range today R14.75/$ - R15.05/$.
South African bourse