Markets

South Africa's rand firms more than 1pc against dollar

Published June 13, 2016 Updated June 13, 2016 04:13pm

1 min

By Shoaib Ur Rehman

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JOHANNESBURG: South Africa's rand firmed more than one percent against the dollar on Monday as the unit recovered from a sharp fall in the previous week, although traders said the rally would be short lived as uncertainty tamed appetite for the currency.

At 1405 GMT the rand had gained to 15.0750 per dollar with some investors reassessing positions ahead of an interest rates decision by the United States central bank later in the week.

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