JOHANNESBURG - The rand firmed on Tuesday after data showing an economic recovery from a recession continued in the fourth quarter of last year, albeit at a slower rate.South Africa suffered a recession in the first half of 2018 as farming plunged after a drought, but growth has since recovered.
“Q4’s growth outcome signalled that the South African economy has muddled along, very slowly on the mend,” said Elize Kruger, an economist at NKC African Economics.
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#RandReport: Rand falls as risk demand cools, stocks inch upAt 1508 GMT, the rand was 0.43% weaker at 13.8850 per dollar, compared to a close of 13.8250 on Monday.
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#RandReport: Rand edges higher, stocks flatAt 1515 GMT, the rand was 0.1% firmer at 14.2175 per dollar compared with a close of 14.2300 on Friday in New York.
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