Rand strengthens against the US dollar - 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 has strengthened to below R15 to the dollar, currently trading at R14,92. This as the dollar weakened after the US Federal Reserve raised interest rates by 0.25% for the first time since 2018.

This as the dollar weakened after the US Federal Reserve raised interest rates by 0.25% for the first time since 2018., and a retreat in recent commodity price highs.

A weaker dollar usually strengthens emerging markets currencies such as the rand. But the rand has also strengthened due to higher commodity prices, which increase the inflow of foreign currency into South Africa.-Additional reporting by Reuters

 

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