Market News
South African rand eases from five-month high - REUTERS
JOHANNESBURG, May 16 (Reuters) - South Africa's rand eased from its strongest level in five months on Friday, a day after a minister said that a new inflation-targeting plan was imminent.
At 1425 GMT, the rand traded at 18.095 against the dollar , about 0.4% weaker than its previous close. It hit 17.9925 per dollar in the morning session for the first time since mid-December.
Markets welcomed Deputy Finance Minister David Masondo's comments at an investor conference on Thursday that an announcement would be made "very soon" about South Africa's inflation-targeting regime.
