The rand had its fourth session of gains on Monday as recent positive economic data fuelled hope that the global economy will soon recover.

At 5.32pm, the rand had firmed 0.46% to R16.6889/$ and 0.39% to R21.0517/£, while it was flat at R18.9567/€. The euro strengthened 0.56% to $1.1359.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now