Reported about 1 month ago
The South African Rand has surged to its highest level in 13 months, driven by positive sentiments regarding the country's economy and expectations of interest rate cuts from the Federal Reserve. As the currency's value reached 17.6069 per dollar, investors have become increasingly optimistic following the recent coalition government formation, which raised hopes for economic reforms. Additionally, the easing electricity outages have contributed to a favorable growth outlook, further attracting investment into South African assets.
Source: YAHOO