• South African rand.  Picture: Christa Eybers/EWN

    Rand holds firmer on improved risk appetite

    Global risk sentiment has been lifted with a number of major economies readying to reopen their economies and encouraging early results from a COVID-19 treatment trial.

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    Rand firms as risk appetite grows

    Sentiment improved as several states in the United States allowed businesses to reopen after a near-total halt in activity to contain the outbreak, while many other countries, such as Italy and Spain, plan to reopen their economies in the coming weeks.

  • Picture: Christa Eybers/EWN

    Rand weaker on rescue package funding worries

    South Africa’s economy was in bad shape before the coronavirus crisis started. With this year’s budget deficit is forecast to reach an 18-year high and loss-making state firms like South African Airways and power utility Eskom are a drain on the public purse.

  • Picture: EWN

    Rand weakens as virus dents risk appetite

    South Africa has spent nearly a month under restrictions requiring most of the population to stay at home apart from essential trips, leaving many businesses and individuals struggling.

  • Picture: AFP

    Rand firms ahead of president's lockdown address

    At 1500 GMT the rand was 0.3% firmer at 18.9700 to the dollar in another volatile session swings from a session-best 18.8800 to more than R19 before bids in New York trading helped it to firm again.

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    Rand firms as South Africa announces COVID-19 rescue package

    Among the measures to fund the rescue package, Ramaphosa said South Africa had approached global financial institutions like the World Bank, International Monetary Fund, the BRICS New Development Bank and the African Development Bank, primarily to fund healthcare interventions.

  • South African rand.  Picture: Christa Eybers/EWN

    Rand steady, oil crash in focus

    The rand steadied against the dollar early on Tuesday, but traders expected the currency to remain under pressure as a plunge in US crude oil futures to below zero sapped risk appetite.

  • South African rand. Picture: Christa Eybers/EWN

    Rand opens weaker as growth fears hurt riskier assets

    The rand fell more than 4% versus the dollar last week, hurt by a surprise central bank interest rate cut and predictions that the domestic economy would suffer a severe contraction because of the COVID-19 pandemic.