JOHANNESBURG Oct 12 (Reuters) – South Africa’s currency is
likely to bounce back from 3-1/2 year lows plumbed this week due
to two months of labour unrest, central bank Deputy Governor
Francois Groepe said.
“The rand’s exchange value has reflected investor concerns
in recent weeks, and although the negative consequences of the
unrest cannot be underestimated, I am confident the currency
will return to more appropriate levels,” Groepe said in a
speech posted on the bank’s website on Friday.
(Reporting by Xola Potelwa and Stella Mapenzauswa; Editing by
Ed Cropley)
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