Wednesday, 23rd April 2008 at 9:47 am
The Rand gains strength

Yesterday, the local currency reached the R7.62 mark against the dollar which was a seven-week high. We had gotten used to the rand softening over the last couple of weeks against the dollar, with the rand reaching levels of R8.16 at one point against the dollar. The rand did not only strengthen against the dollar yesterday but also made significant gains against the pound and the euro.

Although the rand has strengthened its still remains 10% down against the dollar, 11% weaker against the pound and a staggering 22% behind the euro in the year to date. It is still one of the world’s worst-performing currencies this year when measured in dollar terms.

Related Posts
  • Rand slides 10% in 5 days
    After having reached levels of around R7.20 to the US dollar in the last couple of weeks, the rand extended losses against the dollar to more than thr...
  • Daily Wrap : 5 March 2008
    At 15:40 the Rand was bid at R7.7874 to the dollar from its previous close of R7.8778, having reached R7.9275 during the course of the day. It was bid...
  • Rand at five year low
    The Rand continues to slide and today it reached its lowest level in five years against the US dollar. Why is the Rand tumbling you may ask; It is rea...
Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Netvouz
  • DZone
  • ThisNext
  • StumbleUpon
  • Technorati

Subscribe

    Sign-up to receive the latest updates from TheRandToday.com direct to your mailbox
Post a Comment
Name:
Email:
Website:
Comments:
Afrigator