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Foreign exchange market: the South African rand stable after a mini-recovery

23/05/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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On Tuesday, the South African rand changed little, a day after it carried out a mini-recovery on relieving the country's credit rating.

On Monday, the rand finished up more than 1%. At 06:30 GMT, the rand traded at 19.2425 against the dollar, not far from its previous close of 19.2350. The rand hit another record low against the dollar on Friday, but it got a break when the S&P Global rating agency refrained from changing South Africa's sovereign credit rating late last week

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