Rand continues its good run
Updated | By Marius van der Walt
The rand is continuing its good run - breaching the R12/$ level on Wednesday morning.

This came a day after Deputy President Cyril Ramaphosa and International Monetary Fund (IMF) managing director Christine Lagarde met for what has been described as "fruitful" discussions at the World Economic Forum in Davos, Switzerland.
The local currency has been on the front foot since the election of Ramaphosa as the new president of the African National Congress (ANC) at the party's national conference in December.
Efficient Group economist Francois Stofberg believes there are various factors at play.
"These factors include the weak dollar of course, down to $1.23 to the euro, the weak base we came from and no bad news, which is actually good news. We've had a couple of good news stories since the (ANC) elective conference in December. And then as well the positive sentiment and the momentum that is building from that. And if it can continue we would most likely see the rand continue to appreciate against the dollar."
Stoffberg says they believe the rand could dip to R11.60/$, should the country build on the momentum of the past month.
"I think what the rest of the world is starting to hope for, is that the change in leadership will lead to a change in policy, which will lead to a change in South Africa's economic outlook. So there is a lot of positive sentiment that is accumulating to this point. We doubt that it will continue at this trend, but these levels are definitely welcome."
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