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Peaceful elections help rand remain firm

Thursday, 04 August 2016, 13:27
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Peaceful elections help rand remain firm
Economists say a peaceful municipal election, along with a much calmer political climate in general, is helping the rand maintain its strength.
NATIONAL NEWS - Economists say a peaceful municipal election, along with a much calmer political climate in general, is helping the rand maintain its strength.

At around 12pm, the local currency was at R13.77 against the dollar and R18.30 to the Pound.

But the rand’s fate largely remains in the hands of global economic developments.

As the votes are counted, the rand is holding on to gains against the dollar, pound and euro.

Investment Solutions’ Lesiba Mothatha says markets have taken comfort in the smooth running of the municipal elections.

“I think markets take comfort when there’s certainty and there’s less violence.”
 

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