(Bloomberg) -- The South African rand rose against
the dollar, snapping a three-day losing run, after the country's
central bank lifted interest rates for the first time this year.
The rand rebounded from near a two-month low as policy
makers lifted the benchmark lending rate a half-point to 9.5
percent. The increase will make rand-denominated assets more
attractive for carry trade investors, who fund high-yielding
purchases by borrowing in low interest-rate currencies like the
Japanese yen or Swiss franc.
Read more at Bloomberg Currencies News
the dollar, snapping a three-day losing run, after the country's
central bank lifted interest rates for the first time this year.
The rand rebounded from near a two-month low as policy
makers lifted the benchmark lending rate a half-point to 9.5
percent. The increase will make rand-denominated assets more
attractive for carry trade investors, who fund high-yielding
purchases by borrowing in low interest-rate currencies like the
Japanese yen or Swiss franc.
Read more at Bloomberg Currencies News
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