Rand dips below R14 to the US dollar

The rand has dipped below R14 to the US dollar for the first time since 22 November 2015.

The rand was trading at R13.95 to the dollar in afternoon trade in South Africa, strengthening from around R14.15 earlier in the day.

According to Reuters, this strengthening comes after data of a fourth straight monthly trade surplus in June.

The stronger rand is also a result of a “dollar weakness after the release of US GDP data”, said Reuters.

A stronger rand is good news for consumers, who may see lower prices on imported tech goods.

ZAR

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Rand dips below R14 to the US dollar