South African rand rises on stable commodity prices
The South African rand strengthened in early trading supported by stable commodity prices. The move comes after the United States Federal Reserve raised interest rates and signaled further tightening.
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The South Africa rand strengthened 0.6% to 16.3050 against the United States dollar during Thursday morning trading. The move followed a 25 basis point rate hike by the U.S. Federal Reserve. Stable export commodities provided crucial support for the currency despite tightening monetary policy.
