{"id":16038,"date":"2012-10-31T20:18:34","date_gmt":"2012-10-31T18:18:34","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/s-africas-rand-dips-as-trade-gap-widens\/"},"modified":"2012-10-31T20:18:34","modified_gmt":"2012-10-31T18:18:34","slug":"s-africas-rand-dips-as-trade-gap-widens","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-dips-as-trade-gap-widens\/","title":{"rendered":"S.Africa&#8217;s rand dips as trade gap widens"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Oct 31 (Reuters) &#8211; South Africa&#8217;s rand nudged<br \/>\nlower on Wednesday on increased importer demand and data showing<br \/>\nthat the country&#8217;s trade gap widened due to lower mining<br \/>\nexports.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The rand was at 8.7010 to the dollar at 1458 GMT on<br \/>\nWednesday, down 0.6 percent from Tuesday&#8217;s New York close.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s trade deficit widened to 13.8 billion rand<br \/>\n($1.6 billion) in September after a 12.2 billion rand shortfall<br \/>\nin August, the South African Revenue Service said on Wednesday.<\/p>\n<p><span><\/span><\/p>\n<p>Economists surveyed by Reuters had expected a shortfall of<br \/>\n10 billion rand for September due to lower mining exports as a<br \/>\nwave of strikes that began in August has reduced output in the<br \/>\nsector.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The rand weakened today on the fact that there&#8217;s a lot of<br \/>\nimporter demand as we get closer to the 8.60 level, not helped<br \/>\nby the trade data,&#8221; said Brigid Taylor, head of institutional<br \/>\nsales at Nedbank. &#8220;The data does point to the fact that we can<br \/>\nexpect to see pressure come through on the current account.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Taylor said she expect the rand to trade in the 8.60-8.80<br \/>\nrange for the time being.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The rand remains on a negative bias,&#8221; she said. &#8220;Whilst<br \/>\nthat is in play we&#8217;re targeting 8.80.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds were slightly firmer, with yields on the<br \/>\n3-year and 14-year instruments 1.5 basis<br \/>\npoints lower at 5.475 percent and 7.73 percent respectively.<\/p>\n<p> (Reporting by Tosin Sulaiman; editing by Ron Askew)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG Oct 31 (Reuters) &#8211; South Africa&#8217;s rand nudged lower on Wednesday on increased importer demand and data showing that the country&#8217;s trade gap widened due to lower mining exports. The rand was at 8.7010 to the dollar at 1458 GMT on Wednesday, down 0.6 percent from Tuesday&#8217;s New York close. South Africa&#8217;s trade deficit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-16038","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=16038"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16038\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}