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Rand nears strongest level in almost a year as market awaits Ramaphosa's GNU Cabinet

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Cyril Ramaphosa,Currency Markets

Rand nears strongest level in almost a year as market awaits Ramaphosa's GNU Cabinet

The rand continued its gradual advance against the dollar in the wake of SA’s watershed 29 May election as investors awaited details of the government of national unity’s new Cabinet.

The local currency traded at R17.91/$ in late afternoon trade on Friday, near its strongest levels in almost a year. The JSE All-Share Index was on course to close marginally down at 79 833.20 index points after earlier trading above 80 500.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.

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