Unemployment figures loom – Rand remains calm
The rand remained firm on Tuesday morning, ahead of the third-quarter unemployment data that will be released by Statistics SA today. File Image: IOL
CAPE TOWN – The rand remained firm on Tuesday morning, ahead of the third-quarter unemployment data that will be released by Statistics SA (StatsSA) today.
At 10:00 local time, the rand was trading at R14.66 to the dollar, at yesterday’s close it traded it at R14.72.
The rand traded at R18.69 to the pound and was trading at R16.63 to the euro.
NKC African Economics predicts that the rand will range between R14.50 and R14.80 today.
South African investors are waiting with bated breath for StatsSA to release SA’s third quarter labour force survey, that is due to be released at 11:30.
According to StatsSA, the unemployment rate rose to 27.2 percent in the second quarter of 2018, in the first quarter SA’s unemployment was at 26.7 percent.
NKC African Economics said that SA’s unemployment rate would most probably remain close to 27 percent in quarter three.
BUSINESS REPORT ONLINE
Source: iol.co.za
