{"id":6501,"date":"2011-12-29T13:03:42","date_gmt":"2011-12-29T11:03:42","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/s-africas-rand-recovers-but-still-vulnerable\/"},"modified":"2011-12-29T13:03:42","modified_gmt":"2011-12-29T11:03:42","slug":"s-africas-rand-recovers-but-still-vulnerable","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-recovers-but-still-vulnerable\/","title":{"rendered":"S.Africa&#8217;s rand recovers but still vulnerable"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand on track for sharpest fall against dollar among peers<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds track currency weaker, yields up<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Dec 29 &#8211; South Africa&#8217;s rand recouped<br \/>\nsome of its overnight losses against the dollar on Thursday but<br \/>\ncould give up further ground in line with a struggling euro,<br \/>\nwith thin liquidity as the year closes exaggerating some of the<br \/>\nmoves.<\/p>\n<p><span><\/span><\/p>\n<p>By 0652 GMT the local currency was 0.22 percent<br \/>\nfirmer on the day at 8.2019 to the dollar compared with its<br \/>\nprevious close of 8.22 and within sight of a six-day low of<br \/>\n8.2250 touched in late Wednesday trade.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It&#8217;s really just a stronger dollar across the board, really<br \/>\ndriven by lower euro-dollar, and we&#8217;re just rebalancing based on<br \/>\nthat,&#8221; said Garth Klintworth, head of fixed income, commodities<br \/>\nand currencies at Absa Capital.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Locally it&#8217;s very quiet, if anything we&#8217;ve seen<br \/>\nconstructive flows that are rand-supportive, where corporates<br \/>\nare selling export proceeds, so domestically there&#8217;s no<br \/>\nconcern.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The rand is down about 24 percent against the dollar since<br \/>\nthe start of this year. Only the Turkish lira has fallen more<br \/>\nthis year than the South African unit in a basket of 20 emerging<br \/>\nmarket currencies monitored by Reuters.<\/p>\n<p><span><\/span><\/p>\n<p>Both the National Treasury and the Reserve Bank have said<br \/>\nthe liquid nature of the rand makes it vulnerable to wild swings<br \/>\nin portfolio flows in either direction during periods of global<br \/>\nmarket volatility.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds tracked the rand weaker on Thursday and<br \/>\nthe yield on the benchmark 2015 bond added half a<br \/>\nbasis point to 6.765 percent while that for the 2026 bond<br \/>\n was up 1.5 basis points at 8.535 percent.\t<\/p>\n<p> (Reporting by Stella Mapenzauswa; Editing by Ed Stoddard)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2011 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand on track for sharpest fall against dollar among peers * Bonds track currency weaker, yields up JOHANNESBURG, Dec 29 &#8211; South Africa&#8217;s rand recouped some of its overnight losses against the dollar on Thursday but could give up further ground in line with a struggling euro, with thin liquidity as the year closes [&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-6501","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\/6501","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=6501"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6501\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}