15 October 2018
The rand strengthened further on Monday after Moody's Investors Service held off on its ratings review of South Africa on Friday.
By 10:04 the local unit was trading 0.41% firmer at R14.45 against the US dollar, despite the dollar firming somewhat on risk-off sentiment.
Last week, the rand rebounded sharply following lower-than-expected CPI figures from the US as well as a decline in US stocks, following volatile trading amid a change in finance ministers. The appointment of Tito Mboweni in place of Nhlanhla Nene as Finance minister, however, reassured markets.
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