Rand sees daylight
The South African rand has seen gains for a third straight day with signs of recession slowing.
Things are looking up for the South African rand as it advances for a third straight day. The currency exchange rate increase of the rand is helping with the slowing signs of economic downturn, because of the heightened risk demand for higher-yielding emerging-market assets.
The main driver behind the improvement of the rand's currency exchange rate is the fact that it has the attention of global investors. Global investment interest in the rand is crucial because South Africa has one of the deepest and most currency liquid markets among those arising.
Currently the South African currency is being exchanged at 8.0536 per US dollar and 13.23241 against the pound.
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The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.