{"id":3594,"date":"2021-02-01T21:37:44","date_gmt":"2021-02-01T21:37:44","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=3594"},"modified":"2021-02-01T18:00:56","modified_gmt":"2021-02-01T18:00:56","slug":"rand-trades-stronger-against-the-dollar","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-trades-stronger-against-the-dollar","title":{"rendered":"Rand trades stronger against the dollar"},"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>JOHANNESBURG &#8211; The South African rand edged firmer in European trading as the US dollar retreated on the final day of what has been a volatile week for financial markets according to NKC Research.<\/p>\n<p>South African Reserve Bank Governor Lesetja Kganyago indicated in a Bloomberg interview on Thursday that the bank has room to respond to the demand side impact of pandemic-related income disruptions, but stressed that the process is data dependent.<\/p>\n<p>On Friday, the Automobile Association warned that a hefty fuel price increase is on the cards in February, primarily due to higher international crude prices.<\/p>\n<p>At the close of local trade, the rand quoted 1.0 percent stronger at R15.05\/$, after trading in range of R14.95\/$ &#8211; R15.29\/$.<\/p>\n<p><b>Households hesitant to take on more debt<\/b><\/p>\n<p>The latest private sector credit sector extension data from the South African Reserve Bank (Sarb) indicates that households are reluctant to take advantage of the low-interest environment.<\/p>\n<p>The reluctance of consumers to spend was also evident in November, as consumers were hesitant to take retailers up on the normal \u2018Black Friday\u2019 deals.<\/p>\n<p>The data suggests that consumers are reluctant to spend during these uncertain times, while corporates have also faced a tough year in 2020.<\/p>\n<p>On aggregate, claims on the domestic private sector have recorded its slowest growth rate since 2009.<\/p>\n<p><b>BUSINESS REPORT ONLINE<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. JOHANNESBURG &#8211; The South African rand edged firmer in European trading as the US dollar retreated on the final day of what has been a volatile week for financial markets according to NKC Research. South African Reserve Bank Governor Lesetja Kganyago indicated in a Bloomberg interview on Thursday that the bank has [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":3593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-3594","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 trades stronger against the dollar - South Africa<\/title>\n<meta name=\"description\" content=\"JOHANNESBURG - The South African rand edged firmer in European trading as the US dollar retreated on the final day of wh ...\" \/>\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-trades-stronger-against-the-dollar\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rand trades stronger against the dollar\" \/>\n<meta property=\"og:description\" content=\"JOHANNESBURG - 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