South African currency edges closer to R15 to the dollar mark - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The rand is closing in on R15 to the dollar in midday Asian trading, after having started the year at R16 to the dollar.

slowed to 5.7 percent from 5.9 percent in December, and retail sales were better than expected in December at 3.1 percent.

This is pointing to the inflow of foreign currencies, as is reflected in the strengthening of government bonds. An inflow of foreign currency strengthens the rand, while an outflow weakens it.

 

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