Johannesburg – The rand strengthened as much as R13.01 to the US dollar on Friday afternoon.
Analysts say this could be a combination of Mines Minister Mosebenzi Zwane halting the implementation of the contested Mining Charter and movements in the US data.
According to Treasury One, the US consumer price index was at 0.1% month-on-month, compared to the 0.2% markets expected. US retail sales fell 0.2% in June. The dollar weakened, which was positive for emerging market currencies.