Rand strengthens against dollar

File: Currency experts say there has been an all-round gain in emerging market currencies as investors become more optimistic about the uptick in economic activity.

File: Currency experts say there has been an all-round gain in emerging market currencies as investors become more optimistic about the uptick in economic activity.

Flickr/warrenski

JOHANNESBURG - The rand has strengthened to below the R17 to the dollar mark – the strongest its been in 11 weeks.

Currency experts say there has been an all-round gain in emerging market currencies as investors become more optimistic about the uptick in economic activity.

READ: Rand strengthens as investors await US-China trade talks

The lifting of lockdown restrictions globally is seeing investors flock to emerging market currencies as the dollar weakens.

Earlier this year some economists had expected the rand to breach the R20 to the dollar mark as the country lost its investment grade status.

Source
eNCA