TreasuryOne Market Data Report Time: 09:30 Date: 2016/01/13 Currencies USD/ZAR EUR/ZAR GBP/ZAR AUD/ZAR EUR/USD ZAR/JPY

Prior Day Closing (2016/01/12) 16.7665 18.1743 24.1868 11.7016 1.0839 7.0194

Current (2016/01/13) 16.554 17.9371 23.9164 11.6004 1.0837 7.1342

Libor Rates (2016/01/11) 1 Month 2 Month 3 Month 6 Month 12 Month

FRA Rates Interest Rates Safex O/N 1 Month Jibar 3 Month Jibar 6 Month Jibar 12 Month Jibar Repo Rate Prime Rate

Prior Month Closing (2015/12/30) 6.030 6.392 6.625 7.458 8.358 6.250 9.750

Prior Day Closing (2016/01/12) 6.020 6.433 6.658 7.525 8.492 6.250 9.750

3x6 FRA 6x9 FRA 9x12 FRA 12x15 FRA 15x18 FRA 18x21 FRA 21x24 FRA

Swap Rates Gold Gold USD/oz Gold ZAR/oz Gold ZAR/kg

Prior Month Closing (2015/12/30) 1 060.28 16 503.02 530 572.14

Current (2016/01/13) 1 082.30 17 899.07 575 455.11

Gold Forwards Gold 1Y FWD USD/oz Gold 2Y FWD USD/oz Gold 3Y FWD USD/oz

Prior Month Closing (2015/12/30) 1 060.68 1 061.00 #VALUE!

Current (2016/01/13) 1 082.64 1 082.90 #VALUE!

Gold Forwards Gold 1Y FWD ZAR/oz Gold 2Y FWD ZAR/oz Gold 3Y FWD ZAR/oz

Prior Month Closing (2015/12/30) 17 706.14 19 137.47 #VALUE!

Current (2016/01/13) 19 242.30 20 761.36 #VALUE!

Prior Month Closing (2015/12/30) 9.643 8.401 9.1

Prior Day Closing (2016/01/12) 9.66 8.407 9.168

Prior Month Closing (2015/12/30) 2.295 1.988 0.265

Prior Day Closing (2016/01/12) 2.104 1.747 0.222

Bond Rates R186 R 203 R207

10 Year Treasury Yields USD EUR JPY Market Commentary

1Y 2Y 3Y 4Y 5Y 6Y 7Y 8Y 9Y 10Y 12Y 15Y 20Y 25Y

Other Commodities Brent Crude Oil per barrel Uranium per lb Copper per ton Silver Platinum Rhodium Iridium Rhutenium Nickel per ton

USD Libor 0.4240 0.5146 0.6221 0.8513 1.1536

EUR Libor -0.2193 -0.1743 -0.1407 -0.0557 0.0479

Prior Month Closing (2015/12/30) 7.360 7.700 8.150 8.390 8.670 8.850 9.050

Prior Day Closing (2016/01/12) 7.330 7.670 8.120 8.300 8.550 8.670 8.840

Prior Month Closing (2015/12/30)

EURIBOR -0.2190 -0.1780 -0.1430 -0.0520 0.0500

Prior Day Closing (2016/01/12)

7.4474 8.0630 8.4480 8.6950 8.8800 9.0230 9.1330 9.2200 9.2950 9.3550 9.4500 9.5350 9.5330 9.4850

7.4357 7.9800 8.3350 8.6175 8.8100 8.9500 9.0700 9.1750 9.2400 9.3000 9.4000 9.4700 9.4300 9.4250

Prior Month Closing (2015/12/30) 36.46 34.40 4 715.00 13.86 871.48 660.00 520.00

Current (2016/01/13) 30.99 34.50 4 355.00 13.79 838.43 640.00 520.00

42.00 8 660.50

42.00 8 200.50

It seems that some of the panic has quietened down since the pandemonium of Monday with the Rand retracing some of the losses that it incurred over the past few days. The Rand broke back through R 16.50 this morning, and it looks like it can run a little further. The calming notion of this morning was a more stable Chinese stock market and better than expected trade numbers. These numbers represent a little shining light of hope, in that it can be the start of a more positive "feeling" regarding China. The bad news, however, is that these numbers can be an outlier which means that the next releases could resume the trends of last year. The key number to look out for is the Chinese GDP next week Tuesday. Has the latest stabilisation out of China turned market sentiment? The answer is probably a resounding "no" as one swallow does not make a summer, but at least, it could be the start of more positive news. Again, there is a word of caution in that wild swings in Emerging Market currencies are becoming the norm instead of the exception and a jump back above R 16.60 cannot be ruled out. Expect the Rand to try and test lower but with it running hard yesterday, we could see a period of consolidation in line with the market mood at the moment, and bigger gains could be harder to attain in the short term.

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