South African Rand Extends Decline After GDP Contracts in 3Q

Bloomberg

Published Dec 03, 2019 04:34AM ET

Updated Dec 03, 2019 05:23AM ET

South African Rand Extends Decline After GDP Contracts in 3Q

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The rand extended a decline against the dollar after data showed South Africa’s economy unexpectedly contracted in the third quarter.

Thecurrency weakened 0.7% to 14.6472 per dollar by 11:33 a.m. in Johannesburg.