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Currency: The South African rand and the ruble strengthen, the dollar rises

19/05/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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At the end of the weeks, currencies increased. While the South African rand and the ruble have strengthened, the dollar has risen

.

While optimism about a breakthrough in US debt ceiling negotiations and solid economic data reduced the chances of a series of US interest rate cuts this The dollar held its highest level in six months against the yen and its highest level in seven weeks against the euro on Friday.

For its part, the Russian ruble strengthened on Friday. He was 0.4% against the dollar at 79.93, and had gained 0.4% to trade 86.22 against the euro at 08:03 GMT. It strengthened by 0.3% against the yuan to

11.37.

De son côté, The South African rand regained some ground in early trading on Friday. The rand traded at 19.2800 against the dollar, about 0.2% at 06:46 GMT stronger than its previous close. The South African rand hit its all-time low last week amid concerns over an electricity crisis and allegations that South Africa shipped arms to Russia

.
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