By: Matshidiso Selebeleng
Mamiki Radimpane and her family in Thaba Nchu received a brand new house from the Department of Human Settlements as part of an initiative to replace mud houses with Innovative Building Technologies (IBT).
The handover ceremony which took place on Friday was attended by ...
The rand remained stable against a stronger dollar on Friday after the world’s largest economy reported stronger-than-expected employment data.
The rand traded at 17.78 against the dollar, showing little change from Thursday’s closing level.
It initially gained value early in the day when the South African Reserve Bank announced an increase in foreign reserves for the previous month.
The dollar was approximately 0.5% stronger against a basket of currencies following a report from the U.S. Labour Department, which showed that non-farm payrolls rose by 139,000 in May, surpassing economists’ estimates of a 130,000 increase, as reported by Reuters.
As a risk-sensitive currency, the rand often reacts to global factors such as U.S. economic policies and data, in addition to local influences.
This week, domestic investors will be paying close attention to manufacturing and mining reports to assess the health of Africa’s most industrialised economy.
On Monday, 9 June, the rand was trading at R17.77 to the dollar, R24.08 to the pound and R20.28 to the euro. Oil was trading slightly lower at $66.41 a barrel.
SARU is technically insolvent: The South African Rugby Union (Saru) is technically insolvent after a nearly R100 million loss in 2024, largely due to a failed equity deal with Ackerley Sports Group. However, 2025 has started strong, improving the outlook. [Business Day]
