South African Rand Gains as Gold Rises, Oil Prices Ease The South African Rand rallied…

The Central Bank of Kenya (CBK) is scheduled to reopen three Treasury bonds on Wednesday as the authority anticipates a large payout in May.

The South African rand weakened against major crosses in the foreign exchange market as investors sought positions in safer global currencies amid geopolitical pressures.

The Kenyan shilling (KES) gained strength against major crosses in the foreign exchange market last week, reflecting the absence of significant pressure on the local currency amidst growing diaspora remittances.

The Nairobi Securities Exchange (NSE) All-share index (ASI) declined as investors pulled profits by selling Longhorn, Kenyan Airways, Unga Group, Express Kenya, and Britam shares.

The South African Rand weakened across the board, trading lower against the US dollar, the Euro and the British pound, on Tuesday as gold, the country’s major export earner, came under pressure.