South Africa’s rand rallies ahead of expected GDP boost

Follow us on Social Media

A street trader counts out change for a customer in Durban, September 8, 2015. REUTERS/Rogan Ward
Social sharing

JOHANNESBURG (Reuters) – South Africa’s rand strengthened early on Tuesday, extending gains to a fourth consecutive session in thin trade after a holiday in the United States and ahead of local GDP data expected to show the economy avoided recession.

* Rand 0.6 percent firmer at 14.2950 per dollar at 0650 GMT versus overnight close of 14.3800.

* Government bonds also firmer. Yield on benchmark 2026 paper down 4 basis points to 8.81 percent.

* Q2 GDP release at 0930 GMT. Positive numbers would lift sentiment following 1.2 percent contraction in Q1.

* Political unease lingering with police position still unclear on possible arrest of Finance Minster Pravin Gordhan.

* Blue chip futures index up 0.2 percent, indicating bourse opening firmer at 0700 GMT.

(Reporting by Mfuneko Toyana; Editing by Ed Cropley)

 

THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN

WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.

Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi

The economic crisis and hardship in Nigeria are parts of the discussion.


Watch, leave your comments, and share to create more awareness on this issue.


#9NewsNigeria #Nigeria #issuesInTheNews #politics #tinubu THE ROTTEN FISH: CAN OF WORMS OPENED ...
DON'T FORGET TO SUBSCRIBE AND LEAVE YOUR COMMENTS FOR SUBSEQUENT UPDATES
#9newsnigeria #economia #economy #nigeria #government @9newsng
www.9newsng.com

Facebook comment

Click on the link below or Scan the QR Code to join the 9News Nigeria WhatsApp Channel

9News Nigeria Investigative Reports WhatsApp Channel
9News Nigeria Investigative Reports WhatsApp Channel
About 9News Nigeria 13416 Articles
9News Nigeria is Nigeria's favourite news source. For Authentic, Unbiased News on Politics, Business, Sports, Technology, Entertainment and Lifestyles, Health, Nollywood, Crime and Investigations, Family and Relationships, Inspirations .. and much more. For Latest News from Africa and around the world, 9News Nigeria is your best source. WhatsApp +2348115805632 Email: info@9newsng.com Facebook: www.facebook.com/9NewsNG | Twitter/Instagram: @9newsng