South Africa’s Rand Strengthens After Benchmark Rate Unchanged
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South Africa’s rand strengthened, reversing an earlier decline, after the country’s central bank kept its benchmark interest rate unchanged at 6.5 percent.
The rand appreciated 0.6 percent to 7.4771 against the dollar as of 3:22 p.m. in Johannesburg, from 7.5225 yesterday. The currency earlier fell 0.7 percent to 7.5752.