South Africa’s currency market stayed stronger at the weekend as the Rand firmed upward after a sudden cut of interest rate by the Reserved Bank.
The interest rate cut saw the Rand strengthened by 0.23%.
In absolute terms, thirteen Rands exchanged for one American dollar.
Analysts at Nedbank South Africa said the Rand remained steady after the rate cut.
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At the Johannesburg Stock Exchange, the bench mark Top 40 index hinged upward by 0.2% in late trade on Friday.
Government bonds also recorded higher prices.
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