South African rand falls 1% against stronger dollar

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South African rand falls 1% against stronger dollar
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The South African rand fell 1% on Friday, ending a turbulent month ahead of budget and trade figures later in the day.

The dollar last traded at 103.440, about 0.1% stronger against a basket of global currencies.

The rand slipped in the second half of the week after comments by Federal Reserve Chairman Jerome Powell on Wednesday alluded to further interest rate hikes to tackle inflation, giving the dollar a boost.

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ReutersAfrica /  🏆 31. in ZA

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