{"id":30307,"date":"2026-03-30T10:24:18","date_gmt":"2026-03-30T08:24:18","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&p=30307"},"modified":"2026-03-30T10:24:18","modified_gmt":"2026-03-30T08:24:18","slug":"rand-firms-on-commodity-boost","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/rand-firms-on-commodity-boost\/","title":{"rendered":"Rand firms on commodity boost"},"content":{"rendered":"
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The South African (SA) Rand was firmer in early trade on Monday, supported by broad gains in \u200bcommodity prices as investors continued to assess the conflict \u200cin the Middle East.<\/span><\/p>\n<\/div>\n

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The Rand traded at 17.0525 against the Dollar, about 0.4% up from its previous \u200bclose.<\/span><\/p>\n<\/div>\n

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Gold prices edged up on Monday as the dollar softened, \u200bbut gains were capped by a surge in \u2060energy prices that fuelled inflation worries.<\/span><\/p>\n<\/div>\n

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“The Dollar, Rand has held \u200bup surprisingly well. SA is benefiting from being a \u200bcommodity exporter in a world where commodity prices are rising broadly,” said Andre Cilliers, currency Strategist at TreasuryONE.<\/span><\/p>\n<\/div>\n

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Oil prices are heading for \u200ba record monthly rise with Brent crude rallying above $115 \u200ba barrel after Yemen’s Houthis launched attacks on Israel over the weekend, \u200cwidening \u2060the ongoing war and adding to inflation woes.<\/span><\/p>\n<\/div>\n

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Cilliers noted that now Brent crude has broken above the $114.80 resistance level, the next technical target for oil is $127 a barrel.<\/span><\/p>\n<\/div>\n

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“A sustained \u200boil strength \u200bat those levels \u2060could start unwinding the precious metals rally that has been protecting the rand,” said \u200bCilliers.<\/span><\/p>\n<\/div>\n

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Data from the SA Reserve Bank showed \u200bthat M3 \u2060money supply growth last month was 8.39%, up from 7.44% in January.<\/span><\/p>\n<\/div>\n

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Private sector credit growth for February was 10.50%, \u2060above \u200bJanuary’s 8.83%.<\/span><\/p>\n<\/div>\n

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SA’s benchmark 2035 government \u200bbond was weaker in early deals, as the yield rose 5 basis \u200bpoints to 9.19%.<\/span><\/p>\n<\/div>\n

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–Reuters–<\/span><\/p>\n<\/div>\n<\/div>\n","protected":false},"featured_media":14374,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-30307","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":"","news_description":"SA Rand was firmer in early trade on Monday","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/30307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/30307\/revisions"}],"predecessor-version":[{"id":30308,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/30307\/revisions\/30308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/14374"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=30307"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=30307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}