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The South African rand weakened early on Wednesday, pressured by a first-quarter increase in unemployment and concerns over how long easy financing conditions would last globally.
South Africa's rand firmed in early trade on Friday as global risk demand was aided by signs the United States central bank would keep lending rates low despite rising inflation. A Federal Reserve official this week said the surprise jump in consumer inflation had not dented the bank's plans to keep its
AfricaSouth Africa s rand firmer as U.S. Fed stance supports risk demand
Reuters
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A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo
South Africa s rand firmed in early trade on Friday as global risk demand was aided by signs the United States central bank would keep lending rates low despite rising inflation.
A Federal Reserve official this week said the surprise jump in consumer inflation had not dented the bank s plans to keep its support for the economy.
At 0700 GMT the rand was 0.35% firmer at 14.0875 per dollar, compared to an overnight close of 14.1375.