Same rate, different rand
Currencies Direct November 21st 2014 - < 1 minute read
SARB governor Lesetja Kganyago announced yesterday that interest rates will remain unchanged at 5.75 per cent (relief for our Christmas shopping!). The decision was a unanimous one, fully in line with market expectation. Despite the news, it was also a stellar day for the local currency as it gained ground against the majors. ECB President Mario Draghi ends the week with his press conference taking place at 10h00 this morning. It’s Friday and the rand in your pocket is stronger than it was yesterday, have a great weekend folks!
Commentary by Justin Lodewyk