Currency stronger but the economy is still in chains

31 March 2016 - 02:17 By The Times Editorial

The rand did an amazing thing yesterday. After three months in the doldrums it rebounded sharply to close at R14.93 to the dollar - a level not seen since the day before President Jacob Zuma fired Nhlanhla Nene, triggering a run on the beleaguered currency.Unfortunately, domestic factors did not drive yesterday's gains, which put the rand on track for its first quarterly gain since 2012.

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