South African rand strengthens after surprise GDP growth data

South African rand strengthens after surprise GDP growth data South African rand strengthens after surprise GDP growth data

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South African rand strengthens after surprise GDP growth data

June 9, 2026- The rand strengthened on Tuesday after South Africa's economy expanded more than expected in the first quarter of 2026, though the impact of the Iran war was likely to be reflected in the next release.
At 1415 GMT, the rand traded at 16.4325 against the U.S. dollar, up about 0.6%.

Gross domestic product (GDP) grew 0.5% quarter-on-quarter on a seasonally adjusted basis in the first three months, Statistics South Africa data showed.

Economists polled by Reuters forecast GDP growth of 0.3% quarter-on-quarter, down from 0.4% in the fourth quarter of 2025, and 1.8% year-on-year.

Source: cnbcafrica.com

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