South Africa's rand ticked higher against the dollar on Thursday, after overnight comments from the Federal Reserve left some investors speculating that U.S. rates might not rise this year.
Rand firmer on bets U.S. rates won't rise soon
At 0700 GMT the rand up 0.34 percent to 14.2090 compared with Wednesday's New York close.
A South African child holds a 50 rand note in a file photo.
* At 0700 GMT the rand up 0.34 percent to 14.2090 compared with Wednesday's New York close.
* Federal Reserve stops short of signalling a near-term rate rise. [nS0N18U00T]
* Rand caught in 14.2-14.5 range, could next target 14.1700/dollar.
ADVERTISEMENT
* Local bourse opens mostly flat; blue chip stock index down 0.22 percent, all-share dips 0.05 percent.
* Government bonds gain, yield on 2026 benchmark down 4 basis points to 8.71 percent.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
FG to set up committee for awareness on PWD’s rights
Reps call on military to utilise modern tech for security issues in Nigeria
UNN to reduce unemployment among Nigerian graduates through mentoring
AGF calls for strong internal controls to curb financial mismanagement
Tariff has been hiked with no improvement - Abuja residents decry power outage
Emefiele's trial adjourned to June 24, key witness cross-examined
Former ECOWAS Court VP slams EFCC chairman's handling of Yahaya Bello case
Let’s drill 200k boreholes across the country — Obi begs wealthy Nigerians
Ondo 2024: Ex-governor's brother emerges gubernatorial candidate
ADVERTISEMENT