{"id":10921,"date":"2021-05-24T17:03:18","date_gmt":"2021-05-24T17:03:18","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=10921"},"modified":"2021-05-24T16:52:35","modified_gmt":"2021-05-24T16:52:35","slug":"rand-extends-gains-as-rating-agencies-maintain-outlook","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-extends-gains-as-rating-agencies-maintain-outlook","title":{"rendered":"Rand extends gains as rating agencies maintain outlook"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/south-africa\">South-Africa<\/a>. <\/strong><\/span>JOHANNESBURG &#8211; The rand extended gains on Monday, passing the 18-month best reached on Friday as the currency drew strength from rating agencies holding the country&#8217;s credit rating and outlook at current levels.<\/p>\n<p>At 0650 GMT the rand was trading at 13.9350, up 0.3 percent against the dollar. It had raced past its December 2019 level to 13.9400 on Friday evening after the central bank said it could raise interest rates if consumer prices keeps rising.<\/p>\n<p>S&amp;P Global Ratings late on Friday affirmed South Africa&#8217;s long-term foreign currency rating at BB-, three notches below investment grade, and kept local currency debt at BB. It predicted a stable outlook for both.<\/p>\n<p>Fitch also affirmed South Africa&#8217;s long-term foreign currency issuer default rating at &#8216;BB-&#8216; on Friday and maintained a negative outlook.<\/p>\n<p>The agencies cited South Africa&#8217;s improving public finances, primarily because higher commodity prices helped to lift tax revenue last year.<\/p>\n<p>Analysts have said that rising commodity prices could also help to boost government revenue for the 2021-22 financial year.<\/p>\n<p><b>REUTERS<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. JOHANNESBURG &#8211; The rand extended gains on Monday, passing the 18-month best reached on Friday as the currency drew strength from rating agencies holding the country&#8217;s credit rating and outlook at current levels. At 0650 GMT the rand was trading at 13.9350, up 0.3 percent against the dollar. It had raced past [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":10920,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-10921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Rand extends gains as rating agencies maintain outlook - South Africa<\/title>\n<meta name=\"description\" content=\"JOHANNESBURG - The rand extended gains on Monday, passing the 18-month best reached on Friday as the currency drew stren ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-extends-gains-as-rating-agencies-maintain-outlook\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rand extends gains as rating agencies maintain outlook\" \/>\n<meta property=\"og:description\" content=\"JOHANNESBURG - 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