You are using an older browser version. Please use a supported version for the best MSN experience.

South African Rand Extends Decline After GDP Contracts in 3Q

Bloomberg logo Bloomberg 3 days ago Robert Brand
South African rand coins sit alongside a South African 100 rand banknote in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. © Bloomberg South African rand coins sit alongside a South African 100 rand banknote in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone.

(Bloomberg) - The rand extended a decline against the dollar after data showed South Africa’s economy unexpectedly contracted in the third quarter.

The currency weakened 0.7% to 14.6472 per dollar by 11:33 a.m. in Johannesburg.

To contact the reporter on this story: Robert Brand in Cape Town at rbrand9@bloomberg.net

To contact the editor responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

image beaconimage beaconimage beacon