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Rand gains as Moody's delays SA's credit rating

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(Picture: Supplied)
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Cape Town – Moody's Investor Services confirmed to Fin24 that it decided to defer its decision on South Africa's sovereign credit rating, giving the rand a slight reprieve.

Moody’s, which currently has South Africa's sovereign at two notches above non-investment grade at Baa2, placed South Africa on downgrade review on Monday evening.

Moody’s initially planned to review South Africa's credit rating, with an announcement expected this coming Friday.

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