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Rand regains ground after slipping on slowing CPI

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Johannesburg - The rand regained ground on Wednesday after tumbling more than 2% to within a whisker of the 16.00 mark given the declining chance of a rate hike locally and jitters over the Federal Reserve's next move.

Stocks closed slightly higher with rand hedge companies benefiting from the weaker currency.

At 1645 GMT the rand was 1.15% weaker at 15.7400 per dollar, improved from a session low of 15.9050 as pressure on emerging markets eased with bets of fewer hikes by the US central bank regaining some traction.

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