Finweek English Edition - - THE WEEK -

The rand reached a five-month high against the US dol­lar on 19 April as the dol­lar fell to its low­est level since June 2015. The dol­lar de­cline was driven by govern­ment data show­ing new-home con­struc­tion in the US slipped more than ex­pected in March, cloud­ing Fed­eral Re­serve plans to boost in­ter­est rates, Bloomberg re­ported. At the time of writ­ing, the rand, which de­clined more than 30% against the dol­lar last year, was up 8% so far this year against the green­back, with traders say­ing a fur­ther strength­en­ing could be pos­si­ble. This could pro­vide some in­fla­tion­ary re­lief, with a pos­i­tive im­pact on fuel and im­ported food prices in par­tic­u­lar.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.