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Rand joy at GDP stats

05 December 2017 Bianca Botes,Peregrine Treasury Solutions
Bianca Botes, Corporate Treasury Management at Peregrine Treasury Solutions.

Bianca Botes, Corporate Treasury Management at Peregrine Treasury Solutions.

The rand rallied to a new high this afternoon as the GDP figures made their way to market. The general expectation was for GDP growth to come in at 1.7%, so 2% growth is a welcome surprise for the struggling South African economy. The rand strengthened to R13.45, but slipped back slightly to R13.50. The stronger rand is currently a function of our trading account surplus, stronger economic growth and positive expectations toward the ANC NEC election conference.

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