South Africa’s private sector credit expanded at an annualized rate of 4.26% in May, following another 3.9% increase in April, data by the South African Reserve Bank showed.
May has marked the 35th straight month of private sector credit growth.
The broadly defined M3 measure of money supply expanded 4.72% year-on-year in May, while easing from the 5.75% growth in the preceding month.
The USD/ZAR currency pair settled 1.56% lower at 18.1807 on Friday. For the week, the exotic currency pair went up 1.44%, as it snapped a two-week streak of losses.
Meanwhile, political situation in the country will likely continue to be a major consideration for Rand traders.
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