File: Money. eNCA
JOHANNESBURG - The local currency enters the week at 16-month highs against the US dollar.
A stronger rand exchange rate makes imports more affordable and tames inflation, including fuel price rises.
By the end of last week, the rand edged closer to R14 to the dollar mark.
Analysts say demand for the country’s mining commodities, higher interest rates, and a weaker dollar have led to the local currency making strong gains.
The rand is now 30 percent stronger than it was a year ago when it traded at more than R18.50 to the US dollar.