The rand ended its worst streak of weekly losses since April 2020, elevating the currency to a list of just seven in developing-nations to post gains versus the dollar this year. By early afternoon on Friday, the rand was 2% stronger at R15.83/$.
China’s latest measure to bolster its economy also may support rand gains, as the country is the biggest buyer of South African raw materials. The five-year loan prime rate, a reference for home mortgages, was lowered to 4.45% from 4.6%, according to a statement by the People’s Bank of China Friday. That was the largest reduction since a revamp of the rate in 2019. A majority of economists surveyed by Bloomberg had predicted a cut by five to 10 basis points.
Fin24 Couple of months ago I came across a recommendation about AmelieBtc1 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation
Fin24 It strengthened 10 cents against the dollar. How does this put the rand among the winners
Fin24 🤑