(Bloomberg) -- South Africa's rand is headed for a
weekly gain against the dollar as a rebound in global stocks
prompted investors to resume buying emerging-market assets.
The rand also advanced against the Swiss franc and Japanese
yen as traders borrowed funds in those currencies to invest in
higher yielding stocks and bonds in South Africa, a strategy
known as the carry trade. The rand extended gains after central
bank Governor Tito Mboweni said he was concerned about inflation
in Africa's largest economy.
Read more at Bloomberg Currencies News
weekly gain against the dollar as a rebound in global stocks
prompted investors to resume buying emerging-market assets.
The rand also advanced against the Swiss franc and Japanese
yen as traders borrowed funds in those currencies to invest in
higher yielding stocks and bonds in South Africa, a strategy
known as the carry trade. The rand extended gains after central
bank Governor Tito Mboweni said he was concerned about inflation
in Africa's largest economy.
Read more at Bloomberg Currencies News
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