Rand gains ground following local rate decision
29 January 2016 - 13:07
The rand was firmer on Friday morning following a 50 basis point increase in the repo rate. However‚ Standard Bank analysts said although the rand had rallied‚ there was little change in the underlying fundamentals of the currency. "But rather it appears that the rand has overshot its current fair value‚ which we put closer to R15 rather than R16.
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