(Bloomberg) -- South Africa's rand headed for its
first weekly gain versus the dollar in six on speculation the
central bank will keep lifting interest rates and as concern
about the country's current account deficit wanes.
The rand is set to end its worst run in a year after Moody's
Investors Service said yesterday the country's credit rating may
be put on review for a possible upgrade in the next 18 to 24
months as concern on the current-account gap eases. The Reserve
Bank lifted its main rate to 9.5 percent on June 7, and Governor
Tito Mboweni forecast inflation will hold above the bank's target
in the second quarter.
Read more at Bloomberg Currencies News
first weekly gain versus the dollar in six on speculation the
central bank will keep lifting interest rates and as concern
about the country's current account deficit wanes.
The rand is set to end its worst run in a year after Moody's
Investors Service said yesterday the country's credit rating may
be put on review for a possible upgrade in the next 18 to 24
months as concern on the current-account gap eases. The Reserve
Bank lifted its main rate to 9.5 percent on June 7, and Governor
Tito Mboweni forecast inflation will hold above the bank's target
in the second quarter.
Read more at Bloomberg Currencies News
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