Currency: Dollar Falls to Lowest Level, South African Rand Rises : Orishas-finance

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Currency: Dollar Falls to Lowest Level, South African Rand Rises

27/05/2022

Categories: Economy/Forex

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Currency: Dollar Falls to Lowest Level, South African Rand Rises

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The South African rand strengthens on Friday as the dollar falls to its lowest level in a month. At 0634 GMT, the rand was trading at 15.6850 against the dollar, 0.16% higher than its previous close.

The South African rand strengthened, while the US dollar reached its lowest level in a month, due to signs that the Federal Reserve could slow down or even interrupt the tightening of its monetary policy during the second half of the year. The Dollar Index, which measures the greenback against a basket of six major currencies, fell to 101.43 for the first time since April 25.

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