South Africa's rand gained over 1.3 percent against the dollar and was set to keep its gains partly on strong exporters' interest to sell the greenback.
|||South Africa's rand gained over 1.3 percent against the dollar on Thursday and was set to keep its gains partly on strong exporters' interest to sell the greenback.
The rand was trading at 7.2210 to the dollar at 16:08 SA time, after it hit 7.1775 earlier, from Wednesday's New York close of 7.27. It was much recovered from a session low of 7.2790.
“Exporters came in when the rand weakened earlier. Then there is positive equities on the Bank of America news,” said a dealer, adding the rand had good demand in the 7.23 area and it could hold its gains.
Global markets rose after Berkshire Hathaway said it would invest $5 billion in Bank of America. - Reuters
Source: http://www.iol.co.za/rand-gains-over-1-against-us-dollar-1.1125237
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