The rand firmed below the psychological R19 to the US dollar level while the JSE closed higher on Monday, buoyed by less volatile world markets and signs that SA’s government of national unity (GNU) will hold.
On the currency front, the rand traded over 1.6% stronger at around R18.88 against the greenback just after 6pm SA time. Its firmer footing comes just days after the rand was on the verge of topping the R20 mark against the dollar last week after hitting a record low of R19.93 in intraday trade on 9 April.
The currency later recovered to around the R19.14 level on Friday and made further gains today. – moneyweb.co.za
