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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThis Wednesday, the Russian ruble rose against the dollar, while the South African rand rose in turn.
The Russian ruble strengthened against the US dollar on Wednesday, but analysts warn that the rise will be linked to lower oil prices, with Goldman Sachs predicting that the ruble will cross the 100-dollar mark in three months. At 9:50am GMT, the ruble gained 1.4% to 82.40 against the dollar, a development that also reflected the global weakness of the American currency. The dollar has depreciated by 27% against the ruble since the start of the year. The ruble is supported by optimism about the easing of tensions between Russia and the United States, high interest rates, and central bank interventions in the foreign exchange market
.The South African rand gained ground on Wednesday, with the dollar rattled by market uncertainty around US tariffs and local investors waiting for news on the future of the coalition government. At 07:57 GMT, the rand traded at 18.9425 against the US dollar, about 0.4%
higher than its previous close.
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