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The rand was a bit hesitant on Tuesday in the middle of the morning, out of step with world markets, which were generally positive.
However, the local currency held up relatively well in July – it is about to stop a fourth consecutive month of dollar losses.
Last week, the Reserve Bank kept the interest rate unchanged, citing the volatility of the rand exchange rate as the main risk for the inflation outlook. The fortunes of the rand are closely linked to the global environment, which remains uncertain and versatile.
The local environment was also not a source of inspiration, badysts pointing out that the mountainous debt of Eskom posed a potential risk to the taxman. This implies that in the worst case, the government may need to bail out the electricity service.
The bailout could undermine the government's commitment to fiscal consolidation, which rating agencies such as Moody's and S & P Global Ratings require for the country.
Local bonds were relatively mixed that day, but they fared better in July than in the second quarter, when foreigners, in particular, withdrew funds because a bad feeling
. was 13.4727 R for a dollar of 13.4595 Rs, 15.7411 Rs to the euro of 15.7356 Rs and 17.6604 Rs to the pound of 17.6332 Rs. The performance of the 10-year benchmark R186 offers 8.79% 8.765%, while the R207 was 7.485% from 7.48%
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