South African Rand Declines for a Second Week; Worst Performing Currency

(Bloomberg) -- The South African rand had its biggest weekly drop in four as the central bank left interest rates unchanged.

The rand was the worst-performing currency this week of 71 tracked by Bloomberg, dropping almost 1 percent, after the South African Reserve Bank kept its benchmark rate at 9 percent for a second consecutive meeting yesterday. Higher rates would have improved the appeal of rand-denominated assets to foreigners.


Read more at Bloomberg Currencies News