S. African Currency Predicted to Be FirmGermany's Deutshce Bank Friday predicted that rand is likely to strengthen from its current level of above 7.90 against the U.S. dollar to 7.50 by the end of this year.The rand is likely to firm because of the net inflows of at least 6.8 billion dollars, the bank was quoted by the South African Press Association as saying. According to the bank, the 6.8-billion-dollar net inflows include 3.5 billion dollars from the buyout of diamond giant De Beers minorities by gold producer Anglo American consortium, 1.9 billion dollars from telecommunications utility Telkom's initial public offering and 1.4 billion dollars from the sale by Telkom of its stake in telecommunications holding firm M-Cell. |
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