South Africa’s rand firmer on release of new power plan
JOHANNESBURG- South Africa’s rand inched firmer early on Friday, clinging on to the strong gains it made in the previous session, after the country’s cabinet approved a long-delayed plan for electricity generation.
At 0615 GMT, the rand was up 0.27% at 14.80 per dollar.
On Thursday, the currency had rallied from near the 15.00-mark to a session-best 14.77, breaking a three-day losing streak triggered by state power utility Eskom’s resumption of nation-wide controlled blackouts earlier in the week.
Source: iol.co.za
