The rand retreated in the beginning Thursday as the dollar firmed after the latest US Fed interest rate increase, while domestic investors awaited information of amendments towards Mining Charter.
The rand was 0.35% weaker at 14.18 per dollar by 0702 GMT, having closed in Ny at 14.13.
The dollar index against a gift container of six major currencies edged up by 0.4% to 94.574.
Minister of Mineral Resources Gwede Mantashe will brief journalists on amendments for the long-awaited Mining Charter on Thursday.
The Mining Charter – shown provide redress for your exclusion of black persons in the mining sector under apartheid – could yet be be subject to legal challenges if mining organizations are unhappy featuring a contents after publication.
The rand is expected to trade at 14.05 to 14.35 towards the dollar on Thursday, NKC African Economics wrote in a very note.
Investors were also awaiting the release of August’s producer prices inflation data at 0930 GMT.
In fixed income, the yield about the benchmark government bond due in 2026 fell 2 basis points to 9.05%.
On trading stocks, the very best 40 Index was down 0.74% although the broader All Share fell 0.62% at the beginning of trade.?
