South Africa Market Update: JSE Trade Uptick as Rand Improves Against Major Currencies | NC Now
Host: Lekan Onabanjo
Guest: Bonke Dumisa, Independent Economist.
This morning, the Johannesburg Stock Exchange (JSE) saw an increase in trading activity. However, local markets closed in the red on Friday, primarily due to a sell-off in industrial sector stocks.
On a positive note, the South African Rand concluded the week with increased strength against the US dollar. It opened at R18.96/US$ and improved further to 18.90 by 10 am, which was a favorable shift compared to the previous Friday's opening rate of 18.99.
The international Brent crude oil price per barrel was the only market indicator that started negatively, opening at the US$90 price level.
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South Africa Market Update: JSE Trade Uptick as Rand Improves Against Major Currencies | NC Now | 16-10-23
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