http://www.polity.org.za
Deepening Democracy through Access to Information
Home / News / All News RSS ← Back
New York|Africa|Charter|Mining|Africa|South Africa|United States|Continued Media Headlines|Top 40|Isaah Mhlanga
|Africa|Charter|Mining|Africa||||
new-york|africa-company|charter|mining|africa|south-africa|united-states|continued-media-headlines|top-40|isaah-mhlanga
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Verification Image. Please refresh the page if you cannot see this image.

Sponsored by

Close

Article Enquiry

South Africa's rand steadies, stocks to open higher

Verification Image. Please refresh the page if you cannot see this image.
Close

Embed Video

South Africa's rand steadies, stocks to open higher

Photo by Bloomberg

19th June 2017

By: Reuters

SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

South Africa's rand steadied early on Monday after selling in the previous session as rising interest rates in the US weakened demand for emerging market currencies.

At 0637 GMT, the rand traded at 12.7925 per dollar, compared with its New York close of 12.8050 on Friday.

Advertisement

"The strong dollar, combined with continued media headlines related to the Mining Charter, makes us believe the rand is biased for weakness," Rand Merchant Bank analyst Isaah Mhlanga said in a note.

The revised Mining Charter issued by the government on Thursday raised the minimum threshold for black ownership of mining companies to 30 percent from 26 percent and gave companies 12 months to meet the target, hitting mining stocks and the rand.

Focus this week on first-quarter current account data due out on Tuesday and May consumer price inflation numbers to be released on Wednesday.

Stocks were set to open higher at 0700 GMT, with the JSE securities exchange's Top-40 futures index up 0.51 percent.

In fixed income, the yield for the benchmark government bond due in 2026 dipped 1 basis point to 8.475 percent.

EMAIL THIS ARTICLE      SAVE THIS ARTICLE

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options