Archive · Business Recorder
South African rand firms as stable commodities offset Fed tightening signal
JOHANNESBURG: The South African rand strengthened in early trading on Thursday, supported by stable commodity prices after the US Federal Reserve raised interest rates and signalled that further monetary tightening may follow. At 0807 GMT the rand traded at 16.3050 against the dollar , about 0.6% stronger than its previous close. The US dollar was flat against a basket of currencies. South Africa’s key export commodities gained, with gold rising 1.2% to $4,314.64 per ounce and platinum climbing 1.9% to $1,784.42 as investors assessed the Fed’s move. The Fed raised rates by 25 basis poin...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →