The rand started the week at 17.85 USD/ZAR, fell to 17.69, with improved business confidence and a small rise in industrial production boosting investor confidence.
Rand Report: Domestic gains offset by global pressures, ends week on a positive noteOver the past week, the South African rand has experienced significant fluctuations due to a mix of domestic and global factors. The rand initially, supported by positive domestic economic data. The week began with the rand trading at 17.85 USD/ZAR, dropping by 17 cents, and closing at R17.69 against the dollar.
Domestically, ongoing energy supply issues and infrastructure challenges continued to impact economic performance, leading to a cautious outlook. The recent load shedding measures, although somewhat mitigated, underscored the fragility of South Africa’s power sector and its potential impact on economic stability. However, by Friday, the US Federal Reserve Chairman, Jerome Powell, announced that it was time for America to consider cutting interest rates amid recession concerns.
A recent study has ranked the most environmentally active countries in the world, and South Africa didn’t fare too badly. Take a look…
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand Report: South African Rand firms to over one-year highThe rand strengthened on Monday, briefly falling below R17.70, but this momentum is likely to slow as we near the release of local inflation figures on Wednesday.
Read more »
Rand Report: Rand rebounds amid global economic concernsBy the end of last week, the rand closed at R18.30 against the dollar and continued to strengthen, reaching R18.20 on Monday.
Read more »
Stats SA report: Why most victims of housebreaking do not report the crime to policeStats SA report: Why most victims of housebreaking do not report the crime to police
Read more »
ATM's Vuyo Zungula calls for rand manipulators to be held accountable by ParliamentIt is alleged that more than 28 banks conspired to fix the value of the South African rand more than a decade ago.
Read more »
Armed robbers hit East Rand Mall jewellery store, bystander injuredBreaking local news in Boksburg
Read more »
ACSA terminates multi-million-Rand tender over BEE partnerThe Airports Company of South Africa (ACSA) has terminated a multi-million-Rand tender with a French firm following findings in court …
Read more »