(Bloomberg) -- South Africa's rand strengthened to
its highest against the dollar in more than 11 months on
speculation the interest rate gap with the U.S. will widen.
The currency of Africa's biggest economy has advanced 3
percent in the past year as the Reserve Bank has raised rates
five times to 9.5 percent, compared with a key rate of 5.25
percent in the U.S. Economists expect a government report this
week will show inflation exceeded the central bank's target range
for a third month in June.
Read more at Bloomberg Currencies News
its highest against the dollar in more than 11 months on
speculation the interest rate gap with the U.S. will widen.
The currency of Africa's biggest economy has advanced 3
percent in the past year as the Reserve Bank has raised rates
five times to 9.5 percent, compared with a key rate of 5.25
percent in the U.S. Economists expect a government report this
week will show inflation exceeded the central bank's target range
for a third month in June.
Read more at Bloomberg Currencies News
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