Local currency firms after SA's economic performance in the fourth quarter of 2018 beat expectations
The local currency firms after SA's economic performance in the fourth quarter of 2018 beat expectationsNews of SA’s better-than-expected economic performance at the end of 2018 lifted the rand on Tuesday afternoon, although the local currency remains above the psychologically important R14/$ handle.
At 3pm, the rand had gained 0.38% to R14.1572/$, 0.51% to R16.0376/€ and 0.87% to R18.5687/£. The euro was little changed at $1.1333. “The local currency’s performance will remain subdued as the economy struggles to gain momentum, with Eskom posing the biggest threat," said Peregrine Treasury Solutions corporate treasury manager Bianca Botes.
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