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| February 22, 2019

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South Africa's rand stronger vs dollar in quiet end to week -

A South African child holds a 50 rand note July 2. The rand sank to a fresh low against the dollar i..South Africa's rand ended the week firmer against the dollar, continuing to ride on better-than-expected local economic data and dovish Federal Reserve remarks earlier in the week. The unit has tested levels around 10.60 this week during an emerging market-wide rally, after dovish central bank comments from the United States, and as South Africa's current account data surprised with a smaller-than-expected shortfall in the first quarter. At 1431 GMT, South Africa's currency was up half a percent at 10.6970 to the dollar, coming off a session high of 10.6700. The current account data earlier in the week is slightly supportive for the rand so guys are just taking (some) positions off," said David Gracey, a currency trader at Investec.



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