October 04, 2024 06:24 GMT
ZAR: Rand Poised To End Week On Back Foot, National Tsy Holds Linkers Auction
ZAR
- The rand came under further pressure Thursday, with USD/ZAR briefly showing above 17.5, as tensions in the Middle East dented risk appetite. The rand was the worst performer in the EMEA space yesterday but has regained poise this morning.
- The Daily Maverick reported that Russian and Chinese warships docked at Simon's Town naval base this week, with Indian and Brazilian vessels expected to join them soon. According to the newspaper's sources, the Russian frigate's transponder was switched off to conceal location, as the arrival of a Russian warship may provoke questions about South Africa's ostensible neutrality in Moscow's war against Ukraine.
- Energy and Electricity Minister Kgosientsho Ramokgopa said he was looking into options on how to intervene amid the outsize electricity tariff hike proposed by Eskom. BusinessDay quoted the official as refusing to rule out a delay to the full implementation of carbon taxes.
- The National Treasury will hold an auction for 4.25% 2031, 2.25% 2038 and 2.50% 2046 linkers today.
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