The rand is stable as markets wait for significant news/data to find new direction.
Risk appetite has returned, but with continuous geo-political tensions, fears over a trade war and future Fed hikes, the local unit will most likely continue to trade in its current range. In global news:
The IMF (International Monetary Fund) has revised SA’s growth outlook to 1.5% and 1.7% for 2018 and 2019 respectively (upwards from 0.9% for both years). Locally: March inflation and February retail sales figures are the highlights to keep an eye out for later today.
Today’s Rate
USD/ZAR 12.0404
GBP/ZAR 17.1930
EUR/ZAR 14.8744
ZAR/JPY 8.9165
CNY/ZAR 1.9144
AUD/ZAR 9.3279
CHF/ZAR 12.4262
AED/ZAR 3.2780
SGD/ZAR 9.1780
NOK/ZAR 1.5475
EUR/USD 1.2355
GBP/USD 1.4280
GBP/EUR 1.1558