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South African rand set to snap four-week losing streak
JOHANNESBURG: The South African rand was on track to end the week stronger on Friday, snapping a four-week losing streak, supported by firmer gold prices and a subdued dollar, while lower oil prices also offered relief to the net energy importer. At 0830 GMT the rand traded at 16.5275 against the dollar , roughly up 0.4% from its previous close and up about 0.7% on the week. The currency fell 2% last week, its sharpest weekly decline during the recent run of losses. Prices of gold, a major South African export, rose more than 1% on Friday, while the US dollar traded flat against a bask...
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