The Rand firms toward the R7 / US$ mark

Entrepreneurs never give up	Building Credit through Prepaid Cards
Global sentiment does matter!	Money Is Not Wealth

Wednesday, 19th September 2007 at 11:40 am by Rander

The Rand firms toward the R7 / US$ mark

The rand was trading at R7.o5 / US$ this morning which is a 6 week high against the dollar. This is partly due to the US Federal Reserve cutting their interest rates by 50 basis points this week.

Analysts predict that the rand will reach the R7 / US$ mark by the end of this week. It would now be a great time for all those wanting to make US$ payments using your rands to go ahead and do so.

The US rate cut has also sent prices of world commodities up, most notably the price of oil. The oil price reached the $82 a barrel mark with analysts saying the price could easily reach the $85 mark. With rising world oil prices and an anticipated fuel price increase looming in South Africa, it now looks for certain that we will have fuel price increases again soon.

How long will this strengthening of the rand last is the critical question? The US Federal Reserve is cutting interest rates by 50 basis points but i’m sure come next month, the South Africa reserve bank will be increasing our interest rates by 50 basis points.

Rand gets close to R8 / dollar
At lunch time today (8 February 2008), the rand traded at R7.8675 against the dollar after having earlier reached the R7.875 mark. It is not looking t...
Daily Wrap : 3 March 2008
The Rand was steady towards the end of the day after getting close to the R8/$ mark, although it continues to soften against the major currencies. At ...
The rand breaches the R10/$ mark
When most of us woke up this morning, we were shocked to find the rand trading at new record lows. The rand had slumped below the R10/$ mark over nigh...

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.