The South African(SA) currency, Rand is slightly firmer after the greenback declined against a basket of currencies.
The removal of SA from a global financial crime watchdog’s list of countries under heightened scrutiny also helped the local currency.
The Financial Action Task Force’s decision to remove SA from the greylist is a major boost for its reputation and financial system.
Africa’s biggest economy was added to the grey list in February 2023 following criticism of its anti-money laundering and anti-terrorist funding mechanisms.
The Rand is currently trading at R17.20 ($1.00 )to the United States Dollar.
–SABC–
