AVN 65.45 Increased By ▲ 0.50 (0.77%)
BAFL 30.65 Decreased By ▼ -0.86 (-2.73%)
BOP 4.83 Increased By ▲ 0.04 (0.84%)
CNERGY 3.72 Decreased By ▼ -0.12 (-3.13%)
DFML 14.26 Decreased By ▼ -0.15 (-1.04%)
DGKC 41.06 Decreased By ▼ -0.54 (-1.3%)
EPCL 46.56 Decreased By ▼ -0.14 (-0.3%)
FCCL 11.35 Increased By ▲ 0.06 (0.53%)
FFL 5.03 Decreased By ▼ -0.02 (-0.4%)
FLYNG 5.78 Decreased By ▼ -0.04 (-0.69%)
GGL 10.28 Decreased By ▼ -0.17 (-1.63%)
HUBC 67.03 Increased By ▲ 1.39 (2.12%)
HUMNL 5.68 Increased By ▲ 0.02 (0.35%)
KAPCO 27.85 Increased By ▲ 0.10 (0.36%)
KEL 2.19 Increased By ▲ 0.04 (1.86%)
LOTCHEM 24.83 Increased By ▲ 0.48 (1.97%)
MLCF 21.37 Decreased By ▼ -0.11 (-0.51%)
NETSOL 84.20 Decreased By ▼ -0.59 (-0.7%)
OGDC 85.94 Decreased By ▼ -1.31 (-1.5%)
PAEL 11.01 Increased By ▲ 0.03 (0.27%)
PIBTL 4.17 Decreased By ▼ -0.05 (-1.18%)
PPL 74.56 Decreased By ▼ -1.14 (-1.51%)
PRL 13.40 Decreased By ▼ -0.25 (-1.83%)
SILK 0.92 Increased By ▲ 0.03 (3.37%)
SNGP 40.44 Decreased By ▼ -0.89 (-2.15%)
TELE 5.86 Increased By ▲ 0.01 (0.17%)
TPLP 15.42 Decreased By ▼ -0.22 (-1.41%)
TRG 111.63 Decreased By ▼ -0.07 (-0.06%)
UNITY 13.76 Decreased By ▼ -0.22 (-1.57%)
WTL 1.14 Decreased By ▼ -0.02 (-1.72%)
BR100 4,037 Decreased By -26.9 (-0.66%)
BR30 14,412 Decreased By -56.6 (-0.39%)
KSE100 40,471 Decreased By -262.4 (-0.64%)
KSE30 15,163 Decreased By -67.2 (-0.44%)
Markets

South Africa's rand unchanged as US stimulus hopes counter stricter local lockdown

  • But the impact of a stricter lockdown in South Africa announced by President Cyril Ramaphosa is still to play out on the currency and the stock market locally.
Published December 29, 2020
Follow us

JOHANNESBURG: South African rand held its ground on Tuesday as expectations of an expanded US stimulus package offset negative sentiment stemming from tighter coronavirus restrictions after the number of infections in the country surpassed the 1-million mark.

At 0540 GMT, the rand was trading at 14.6000 against the dollar, unchanged from Monday.

The Democrats-led US House of Representatives voted in favour of President Donald Trump's demand for $2,000 COVID-19 relief checks on Monday from the previous $600.

However, it has to still pass the Republican-controlled Senate.

This sent shares on the Wall Street soaring and increased appetite of investors for riskier assets globally, sending shares high early on Tuesday in Asia and boosting riskier currencies.

But the impact of a stricter lockdown in South Africa announced by President Cyril Ramaphosa is still to play out on the currency and the stock market locally.

The country on Monday tightened COVID-19 curbs, banning alcohol sales and extending the timings of a nationwide curfew, as infections touched a grim milestone owing to a faster-spreading variant of the disease discovered in the country.

South Africa has recorded the highest number of coronavirus infections on continent, with 1,004,413 cases reported and nearly 27,000 deaths, forcing the government to take the drastic measures, Ramaphosa said.

Comments

Comments are closed.

South Africa's rand unchanged as US stimulus hopes counter stricter local lockdown

PM vows ‘zero tolerance’ to terrorism

Pakistan expresses unflinching support for Kashmiris on Solidarity Day

Foreign authorities seeking properties/bank accounts info: FBR won’t intimate concerned taxpayer about request

Dar chairs meeting on role of PDFL, SOEs

WB board to consider $78m ‘digital economy’ project next month

PM directs PD to recover Rs1.13bn royalty amount from 2 oil, gas cos

Section 144 imposed in Peshawar

Imran talks of ‘jail bharo’ movement soon

Pakistan to appeal to Taliban leader over mosque bombing

IK says ‘some other people’ behind acts of vengeance