South Africa's rand extended gains against the dollar, after competition authorities approved the Wal-mart/Massmart deal with conditions.
|||Johannesburg - South Africa's rand extended gains against the dollar on Tuesday, after competition authorities approved the Wal-mart/Massmart deal with conditions.
The rand firmed to 6.8548 against the dollar at 1227 GMT, from 6.8720 before news that Wal-mart's $2.4 billion bid for Massmart could go ahead.
The rand was 1.05 percent firmer than Monday's New York close of 6.9320. It was at its strongest since May 20. - Reuters
Source: http://www.iol.co.za/rand-extends-gains-on-wal-mart-deal-1.1076489
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