Category: Rand
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South African rand jumps as Fed’s Powell signals lower rates By Reuters
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JOHANNESBURG (Reuters) – South Africa’s rand jumped on Friday after comments from Federal Reserve Chairman Jerome Powell suggested an interest rate cut next month. At 1520 GMT, the rand was trading at 17.71 rand to the dollar, up 1.82% from its previous close. “The time has come to adjust policy,”…
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South African rand extends losses, focus on unity government’s reforms By Reuters
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JOHANNESBURG (Reuters) – South Africa’s rand extended losses on Tuesday after a turbulent start to the week as markets waited to see how the new national unity government would handle economic reform after forming a cabinet. By 11:31 GMT, the rand was trading at 18.475 against the dollar, down 0.6%…
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South African rand rallies on hope DA and ANC can agree on cabinet posts By Reuters
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JOHANNESBURG (Reuters) – The rand rose in South Africa on Friday amid optimism that the Democratic Alliance and the African National Congress will reach an agreement on ministerial positions, a day after local media reported a major rift between the two parties. At 1503 GMT, the rand reached 18.24 against…
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South African rand drops on reported discord over cabinet posts By Reuters
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Written by Tanwar Anders JOHANNESBURG (Reuters) – The South African rand fell sharply on Thursday after media reports of a major rift between the pro-business Democratic Alliance party and President Cyril Ramaphosa over ministerial positions. At 1527 GMT, the rand was trading at 18.48 against the dollar, down 1.7% from…
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S.African rand slips as cabinet announcement appears nearer By Reuters
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JOHANNESBURG (Reuters) – The South African rand fell in choppy trade on Tuesday as comments from the unity government’s two largest parties suggested a government announcement by President Cyril Ramaphosa was nearing. The currency fell about 0.3 percent to 18.16 to the dollar by 1220 GMT, adding to its losses…
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South African rand weakens, focus on cabinet announcement By Reuters
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JOHANNESBURG (Reuters) – The South African rand fell in early trade on Monday, as markets awaited the announcement of President Cyril Ramaphosa’s government after the African National Congress lost its parliamentary majority in last month’s elections, the first time in 30 years. At 0556 GMT, the rand was trading at…
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South African rand edges lower, focus on president’s cabinet picks By Reuters
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JOHANNESBURG (Reuters) – Shares fell in early trade on Thursday, with investors turning cautious ahead of newly re-elected President Cyril Ramaphosa’s cabinet appointments under a unity government. At 0726 GMT, the rand was trading at 17.9850 against the dollar, down 0.15 percent from its previous close. The local currency rose…