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Find all the economic and financial information on our Orishas Direct application to download on Play StoreOn Wednesday, the South African rand weakened against the dollar, pulled down by the deterioration in risk sentiment. While the dollar is
gaining momentum.At 0726 GMT, the rand traded at 18.58 per dollar, 0.38% lower than its previous close. Central bank data earlier showed that South Africa's net foreign reserves increased to $57.851 billion at the end of April, up from $57.513 billion
in March.The dollar returned to the forefront on Wednesday, recording modest gains after earlier losses due to renewed bets on Federal Reserve rate cuts this year.
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