The rand was remained on its firmer path on Wednesday afternoon. This was in spite of disappointing GDP figures released by Statistics SA on Tuesday. At 3.29pm the rand was at R13.5704 to the dollar from Wednesday’s R13.6500, R14.5564 to the euro from R14.6296 and R17.1110 to the pound from R17.3055. Some analysts said the positive movement was unexpected, but was in line with other emerging-market currencies. The country recorded lower-than-expected GDP growth of just 0.2% in the third quarter, down from 3.3% in the second quarter. Markets had priced in a growth rate of 0.3%-0.6%.
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