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South Africa Forex Market Report

Rand Is Set In Quiet Trade While Stocks Creep Higher.

The stock markets have risen and continue to do so whilst the rand has hardly moved. The lack of data risks from global markets has left Investors eagerly awaiting for data release or clear leads for some form of direction.
Statistics have shown that “there are no huge risks on the rand today (3/11/2015)” but towards the end of the week the equity market may give the risky assets a slight boost for investors, depending on the data and event outcome.

MTN Group is battling to reduce $5.2 bn fine in Nigeria for failing to deactivate unregistered SIM cards by a regulatory deadline. The fine, which equates to around R70 billion, is more than twice the entire group’s annual profits.

The fixed income market has strengthened due to the weekly government action, taken place on Tuesday.

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