Rand at 16 month high against the dollar

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.

READ: Producer Price Inflation increases 5.2%

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.

Source
eNCA

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