The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
webinar-thumb-1108
Estate Planning: Building a Legacy for the Future 
November 8, 2022
Webinar-mobile-desktop-267x320-1
Outlook 2022: Recover. Restart. Rebalance.
March 31, 2022
View All Webinars
Downloads
grocery-market-aa-5
Inflation Report
Inflation Updates (December 5, 2023) 
DOWNLOAD
grocery-shopping-cart-as
Economic Updates
November 2023 Updates: Upward tilt of inflation still a possibility 
DOWNLOAD
Commuters-aa
Economic Updates
3Q 2023 PH GDP Report: Upward bias for full-year GDP forecast
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investment Path Advisory
  • On Government Debt Thresholds: How Much is Too Much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
webinar-thumb-1108
Estate Planning: Building a Legacy for the Future 
November 8, 2022
Webinar-mobile-desktop-267x320-1
Outlook 2022: Recover. Restart. Rebalance.
March 31, 2022
View All Webinars
Downloads
grocery-market-aa-5
Inflation Report
Inflation Updates (December 5, 2023) 
December 5, 2023 DOWNLOAD
grocery-shopping-cart-as
Economic Updates
November 2023 Updates: Upward tilt of inflation still a possibility 
November 22, 2023 DOWNLOAD
Commuters-aa
Economic Updates
3Q 2023 PH GDP Report: Upward bias for full-year GDP forecast
November 10, 2023 DOWNLOAD
View all Reports
Economy 1 MIN READ

South Africa’s rand firms, central banks in focus

May 13, 2022By Reuters
Related Articles
Dollar marches higher, euro teeters on brink of parity July 12, 2022 UPDATE 1-Philippines election campaigns kick off with vows of unity, graft-busting February 8, 2022 S&P 500 ends higher as oil stocks rally; Tesla tumbles April 3, 2023

JOHANNESBURG, May 13 (Reuters) – South Africa’s rand firmed in early trade on Friday, extending gains made in the previous session despite a stronger dollar and data pointing to continued weakness in the domestic economy.

At 0540 GMT, the rand ZAR= was trading at 15.9900 against the dollar, 0.67% firmer than its previous close.

The currency stayed resilient against the dollar, which remains near 20-year highs, and was not largely moved by data released on Thursday showing that March mining output fell more than expected, and manufacturing production also declined year-on-year.

Market participants are now awaiting South Africa’s Reserve Bank monetary policy committee meeting next week.

A Reuters poll forecasted that the central bank is set to make its first 50 basis point hike to its repo rate in more than six years on Thursday, taking it to 4.75%, to prevent potential second-round effects from higher consumer prices.nL5N2X398J

A hike could support the rand, at a time when investors are also assessing how aggressive the U.S. Federal Reserve policy path will be after it raised its benchmark overnight interest rate by 50 basis points last week.

(Reporting by Olivia Kumwenda-Mtambo; Editing by Subhranshu Sahu)

((Olivia.Kumwenda@thomsonreuters.com; +27 10 346 1084;))

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2021 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up