The rand fell to the weakest level in almost four years as accelerating inflation added to concern about slowing growth amid labor protests and civil unrest in Africa’s biggest economy.
South African economic growth slowed to an annualized 3.2 percent in the second quarter as mining exports slumped, offsetting higher spending during the soccer World Cup that lured thousands of visitors to the country.
Investor confidence in South Africa rose to a three-year high in the first quarter, according to an index that tracks where investors are moving their money.
Investor confidence in South Africa rose to the highest since the first quarter of 2010 in the three months through December, according to an index that tracks where investors are moving their money.
"It's very possible that we are seeing some early exporter interest this morning."
- Russell Lamberti on Mar 06, 2012