{"id":11461,"date":"2021-06-01T14:26:38","date_gmt":"2021-06-01T14:26:38","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=11461"},"modified":"2021-06-01T13:47:57","modified_gmt":"2021-06-01T13:47:57","slug":"rand-up-5-in-may","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may","title":{"rendered":"Rand up 5% in May"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/south-africa\">South-Africa<\/a>. <\/strong><\/span>THE RAND firmed against the dollar yesterday and was on track for monthly gains of more than 5 percent thanks to a softer greenback and higher commodity prices.<\/p>\n<p>At 5pm rand was 0.51 percent firmer at R13.72 to the dollar, taking the monthly gain so far to 5.3 percent.<\/p>\n<p>The dollar came under pressure more broadly yesterday as traders assessed the impact of a surge in US inflation before monthly jobs data later this week.<\/p>\n<p>The rand hit its firmest since February 2019 last week, driven by investor bets that the US central bank would lend at low rates for longer despite signs of higher inflation in the world\u2019s biggest economy.<\/p>\n<p>\u201cThe strongly supportive global monetary policy environment is benefiting the domestic currency, as are South Africa\u2019s interest rate differentials,\u201d said Annabel Bishop, chief economist at Investec.<\/p>\n<p>\u201cThe rand\u2019s substantial run in strength to date is not expected to be endless, and as the US shows greater signs of recovery, so market fears about the US tapering its QE programme will grow and this would be expected to reduce market appetite for risk taking.\u201d<\/p>\n<p>Resource-rich rand has also benefited from a rise in commodity prices as top importer China\u2019s economy improves.<\/p>\n<p>Stocks also firmed, boosted by commodity prices like gold , platinum and palladium. Gold was on course for its biggest monthly jump since last July as the dollar headed for a second month of decline, while growing inflationary pressures also lifted bullion\u2019s appeal.<\/p>\n<p>Leading gainers was Impala Platinum up 5.25 percent at R250.50. Northam Platinum rose 5.19 percent to R233.08 while Anglo American Platinum climbed 4.67 percent to R1818.69.<\/p>\n<p>Overall, the JSE all share index rose 0.61 percent to 67964.04 points, while the Top40 index gained 0.71 percent to 61 782.86 points.<\/p>\n<p><b>REUTERS<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. THE RAND firmed against the dollar yesterday and was on track for monthly gains of more than 5 percent thanks to a softer greenback and higher commodity prices. At 5pm rand was 0.51 percent firmer at R13.72 to the dollar, taking the monthly gain so far to 5.3 percent. The dollar came [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":11460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-11461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Rand up 5% in May - South Africa<\/title>\n<meta name=\"description\" content=\"THE RAND firmed against the dollar yesterday and was on track for monthly gains of more than 5 percent thanks to a softe ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rand up 5% in May\" \/>\n<meta property=\"og:description\" content=\"THE RAND firmed against the dollar yesterday and was on track for monthly gains of more than 5 percent thanks to a softe ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-01T14:26:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60b63a6e6d6da.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Rand up 5% in May\",\"datePublished\":\"2021-06-01T14:26:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may\"},\"wordCount\":293,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60b63a6e6d6da.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-up-5-in-may\",\"name\":\"Rand up 5% in May - 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