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Stronger rand tests R13.50 mark to the dollar on improved global prospects
By Siphelele Dludla
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THE RAND surged to its highest levels in 26 months during early trade yesterday, testing the R13.50-mark against the US dollar on prospects of a global economic recovery.
However, the domestic currency retreated slightly and was 0.05 percent higher to R13.60 against the greenback at 5pm after the dollar inched higher following upbeat US jobs numbers
Private businesses in the US hired 978 000 workers in May, the highest reading since June 2020 as the labour market continues to recover amid a rapid reopening of the US economy.