empty
 
 

19.11.202509:20:29UTC+00South African Rand Remains Firm

The South African rand hovered around 17.2 against the US dollar, maintaining proximity to its highest level since September 2024, primarily buoyed by the upswing in gold prices. Concurrently, domestic investors evaluated the latest inflation statistics and their implications for the upcoming decision by the South African Reserve Bank on November 20. The inflation rate in South Africa accelerated to 3.6% in October, up from 3.4% in September, yet fell short of the anticipated 3.7%. Market sentiment anticipates that the central bank will resume its monetary easing path, with a 25-basis-point rate cut already factored in, following the recent formal adoption of a 3% inflation target by South Africa’s National Treasury in its medium-term budget. Finance Minister Enoch Godongwana stated that the new target 'will stabilize inflation at lower levels' and 'reduce the cost of living and borrowing.'

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback