South Africa's rand strengthened 1 percent on Thursday on expectations that the Bank of England could cut interest rates, lifting demand for higher yielding assets.
Rand firms 1 percent on rising risk appetite
South Africa's currency gains on expectations that the Bank of England could cut interest rates, lifting demand for higher yielding assets.
A South African child holds a 50 rand note , file.
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"Risk sentiment remains positive and the expectation that the Bank of England will introduce some form of monetary easing later today could see the rand strengthening even further," ETM market analyst Ricardo Da Camara said.
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![President Muhammadu Buhari (left) and Minister of Communications and Digital Economy, Isa Pantami (right), approved the policy [Presidency]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'300'%20height%3D'172'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "President Muhammadu Buhari (left) and Minister of Communications and Digital Economy, Isa Pantami (right), approved the policy [Presidency]")