The rand is stronger this morning as the US and China Trade war heats up.

“The Donald” announced plans to slap certain Chinese imports with a 25% tariff, which was met with “fire and fury” and a 15% – 25% tariff on certain US imports by China. The US treasury dropped another “bomb” as they plan to restrict Chinese investments in certain US sectors.

Asian and US equities sank as hits to global growth are expected. Across the pond, the bank of England left interest rates unchanged, but hinted a future increase might be in play. SA awaits Moody’s credit rating decision later tonight with the rainbow nation in a great position to dodge the dreaded downgrade. Have a great day and an “Epic” weekend!

Today’s Rate

USD/ZAR 11.7870
GBP/ZAR 16.6306
EUR/ZAR 14.5379
ZAR/JPY 8.9054
CNY/ZAR 1.8641
AUD/ZAR 9.1051
CHF/ZAR 12.4518
AED/ZAR 3.2095
SGD/ZAR 8.9675
NOK/ZAR 1.5203
EUR/USD 1.2337
GBP/USD 1.4117
GBP/EUR 1.1445

All rates quoted are the interbank rates at time of publishing and shown for indicative purposes only. It is important to note that foreign exchange rates fluctuate and that the rates will vary depending on the amount and product purchased and sold.

Author: Don V