NEWS | Rand Reacts To Repo Hold
After spiking over R19/Dollar recently the Rand has now settled down back below this important threshold.
The drop followed the recent SARB Monetary Policy Committee announcement about not changing the Repo Rate. With the Repo Rate holding steady for the near future, this has brought some clarity to the market and the Rand reacted accordingly.
Other factors like countries harbour and freight issues, the drastic drop in coal exports via Richards Bay, the ongoing high levels of organised crime and upcoming election chaos will likely have some negative effects on the Rands value in the months ahead. This in turn may influence fuel costs and push up transportation costs. At the same time, the US has their fair share of ongoing issues and this is just as big a factor in the equation.
1 year ago the Rand was at R17/Dollar