South Africa's rand firmed on Tuesday, recouping some losses from the previous session as the dollar backtracked ahead of the U.S. central bank's interest rate on Wednesday.
Rand rebounds as dollar falls ahead of Fed
Rand up 0.24 percent on Tuesday to 14.3250, compared to New York close at 14.3600.
South African Rand coins are seen in this photo illustration taken September 9, 2015. REUTERS/Mike Hutchings
Recommended articles
* Rand up 0.24 percent on Tuesday to 14.3250, compared to New York close at 14.3600.
* Blue chip Top-40 futures index up 0.45 percent, indicating bourse will open firmer at 0700 GMT.
* Government bonds also firmer, yield on paper maturing in 2026, cuts 3 basis point to 8.76 percent.
ADVERTISEMENT
* Currency struggling to clear 14.3000 resistance, seen range bound, possibly hawkish Federal Reserve statement on Wednesday posing downside risks.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Strike: FG heeds TUC's demands, set up committee to review minimum wage
Group urges Nigerians to exercise patience with Tinubu
I did not assault my wife – Ondo Deputy Governor
Makinde seeks review of Supreme Court’s judgment to pay ₦3.4bn debt to LGs
South-East group congratulates Gbajabiamila, Akume on appointments
30 killed as armed men invade Sokoto community
NDLEA destroys 3 tons of skunk in Edo forest, seizes 76.9kg Canadian Loud
Attack on Yahaya Bello’s convoy political, Natasha alleges
NDLEA recovers 390kg illicit drugs in 4 states in 5 days
ADVERTISEMENT