Biden Victory Pushes Rand Higher

Commentary by Niel Lubbe

It’s official, Joseph Robinette Biden Jr. claimed victory to become the 46th President of the United States on Saturday afternoon. 

Biden secured the 270 Electoral College votes required to win the race, pledging to unify the States once more. The rand is loving Joe, with his expected monetary stimulus and less stringent trade policy strengthening the local unit to its best level in eight months, nearly touching 15.50/$ in early Monday trade. The battle is far from over, however, as Trump’s camp confirmed they will proceed to the courts amidst election fraud claims, and neither the Democrats nor Republicans have the Senate majority as of yet. 

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Below is a table containing the latest rates: