(Bloomberg) -- The rand posted its first weekly
gain against the dollar in six as Moody's Investors Service said
the country's credit rating may be put on review for a possible
upgrade on waning concerns about the current-account deficit.
The rand also ended its worst run of weekly losses in a
year on speculation the central bank will raise interest rates
further. The Reserve Bank lifted its benchmark to 9.5 percent on
June 7, and Governor Tito Mboweni forecast inflation will hold
above the bank's target in the second quarter.
Read more at Bloomberg Currencies News
gain against the dollar in six as Moody's Investors Service said
the country's credit rating may be put on review for a possible
upgrade on waning concerns about the current-account deficit.
The rand also ended its worst run of weekly losses in a
year on speculation the central bank will raise interest rates
further. The Reserve Bank lifted its benchmark to 9.5 percent on
June 7, and Governor Tito Mboweni forecast inflation will hold
above the bank's target in the second quarter.
Read more at Bloomberg Currencies News
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