The rand bounced back against the dollar on Tuesday on firmer global markets and as the rally on the Japanese yen lost steam, but traders warned recent stock market woes may not be over.
The local currency firmed sharply in early trade before steadying at around 1.3% stronger on the day.
It was trading at R7.4234/$ at 17:45, a gain of 1.1% from its previous New York close, clawing back heavy losses after sliding to a four-month low of R7.5410 on Monday.
Read more at FIN24.co.za
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