Rand strengthens to highest level in five months

The stronger rand is also the result of inflows of foreign currency, especially into government bonds which offer much higher yields than their overseas counterparts.
The rand has strengthened to its strongest level in five months against a basket of major currencies, mainly due to a weaker dollar, which usually strengthens the rand.

However, the stronger rand is also the result of inflows of foreign currency, especially into government bonds which offer much higher yields than their overseas counterparts.

A widening of South Africa’s trade surplus in November is also supporting the rand, which is trading at R13.98 to the dollar at this hour, having strengthened by 5% since mid-December.

Supplied