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Rand stable above R12/$ as geopolitics again sets tone for emerging markets

16 April 2018 6:53 AM
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Rand stable above R12/$ as geopolitics again sets tone for emerging markets

Cape Town - The rand was steady in early trade on Monday morning, changing hands at R12.07 to the dollar at 08:35.

At close on trade on Friday, it was quoted at R12.08 to the greenback.

The US Treasury is set to it impose fresh sanctions on Russia on Monday related to its involvement in Syria’s use of chemical weapons, according to US United Nations Ambassador Nikki Haley.

Botes said the US/Russia dispute could see the greenback come under pressure as markets becomes jittery.

NKC African Economics said that no major economic data releases were scheduled on Monday. It expects the local currency to trade in a range between R11.90/$ - R12.15/$.

The price of gold, meanwhile, ticked up on Friday and rose marginally in Monday's early Asian trading session.

Also read: JSE holds on to gains as in tentative trading

Source: fin24.com

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