DURBAN – The rand’s firming to R14.69 a dollar on Monday was near analysts’ forecasts, according to Investec chief economist Annabel Bishop.
“The US dollar has seen some weakness recently as risk aversion subsided, with perceived gains in the US trade deal since October aiding sentiment,” said Bishop.
The domestic currency ranged between R14.69 and R14.83 to the dollar on Monday.
At 5pm the rand was bid 6c weaker than the same time bid on Friday at R14.78 against the dollar. Against the pound, it was 15c weaker at R19.15 and bid at R16.37 versus the euro.
Treasury Partner at Peregrine Treasury Solutions Bianca Botes said the rand benefitted from the slight weakening of the greenback going into Saturday, to hold at around R14.71 a dollar over the weekend.