Rand stability wanes

Tshwane mayor Nasiphi Moya
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JOHANNESBURG – The rand is currently enjoying its most stable period in nine years, yet it appears to be losing ground against major currencies.
The local currency has weakened by nearly 0.5 percent and has dropped more than 1 percent over the past week. 
Just a week ago, it was trading below R17.30. 
This decline can be largely attributed to a strengthening dollar.