#SAMarketIndicators: Rand opened weaker against the greenback

The South African rand opened weaker against the greenback in early trade this morning, as most emerging markets currencies retreated on the back of a political storm brewing in the United States.

The rand was trading 2.29 percent weaker against the dollar to R13.35 at 10am while the price of gold was down 1.56 percent to 1,257 in the same period. This means the gold price has increased by 2.5 percent since the start of the week. This is the 6th day that Gold has climbed.

Alet Opperman, a director at Treasury One, said the crisis facing the Trump administration threatens to …read more