THE rand was weaker against the dollar late on Monday as local and global markets awaited further central bank interest-rate announcements this week.
The Bank of Japan (BoJ) was due to make its announcement on Tuesday, followed by the US Federal Reserve on Wednesday. The Reserve Bank and Bank of England’s (BoE’s) interest-rate decisions are due on Thursday.
At 3.27pm, the rand was at R15.3855 to the dollar from R15.2298 at Friday’s close. It was at R17.0976 against the euro from R16.9689 and R22.0777 against the pound from R21.8938.
The euro was at $1.1113 from $1.1145 previously.
Treasury One’s chief currency dealer, Wichard Cilliers, said the market seemed to have taken a breather after the cat that was thrown among the pigeons by European Central Bank (ECB) president Mario Draghi last week Thursday. He was referring to the increased stimulus measures the bank announced.
"This week is central banks week, with rate decisions due by several central banks," he said.
It would be interesting to see if Mr Draghi were the main event of the month or merely the appetiser, Mr Cilliers said.
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