Investors just rug-pulled the rand to secure profits after that massive holiday rally. The South African currency slipped to R16.70 against the greenback, while precious metals like silver and gold cooled off from near-record highs. Wichard Cilliers at TreasuryONE claims the long-term vibes remain positive despite this dip. Aspen Pharmacare saw its stock rocket over twenty percent on the Johannesburg Stock Exchange after dumping Asia Pacific assets excluding China for roughly one billion six hundred million dollars.
That local unit still looks set for its biggest annual jump since 2009 because global dollar weakness meets local political stability. Foreigners loaded up on over seventy-two billion rand worth of local bonds recently.
Oil trades around sixty-one dollars a barrel, while gold sits above four thousand. The currency maintains strength against the pound and euro despite the recent stumble.
That local unit still looks set for its biggest annual jump since 2009 because global dollar weakness meets local political stability. Foreigners loaded up on over seventy-two billion rand worth of local bonds recently.
Oil trades around sixty-one dollars a barrel, while gold sits above four thousand. The currency maintains strength against the pound and euro despite the recent stumble.
