South African rand strengthens further after strong week of gains

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South African rand strengthens further after strong week of gains
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South Africa's rand strengthened further on Friday after a strong week of gains boosted by encouraging economic data at home.

At 1508 GMT, the rand traded at 18.7000 to the dollar, around 0.72% stronger than its previous close.

The rand has gained more than 4% against the dollar this week, recovering steep losses from the previous month. South Africa is in the midst of its worst-ever power crisis, which has crippled the economy and helped push the rand to a new all-time low of almost 20 to the dollar last week. But several economic data points have aided its recovery. South Africa's first-quarter economic growth on Tuesday showed the country had narrowlyOn the Johannesburg Stock Exchange, both the broader all-share index

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