The South African rand had the worst performance among 16 main traded currencies today after a news agency affirmed that the national central bank intended to intervene massively stopping the rand to fluctuate, causing a negative impact in the rand rates today.
After the Sake24 financial news services suggested that the government planned to freeze the rand fluctuations, the South African currency declined massively, even if the government declined such plan afterward, forcing Africa’s best performing currency down to almost 2 percent.
USD/ZAR closed today at 7.455 from an previous close of 7.345 on Wednesday.
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