South Africa's weaker rand has "muted" impact on exports: treasury

Reuters
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CAPE TOWN (Reuters) - The depreciation of South Africa's rand has had a "muted" impact on Africa's most developed economy because weaker commodity prices have offset the benefits for exporters of having a weaker currency, the Treasury said on Tuesday. "The depreciation has occurred side-by-side with falls in commodity prices which hurt in terms of what we get for our exports," Lungisa Fuzile, Director-General of the Treasury, told reporters.

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