The rand expected to gain some strength this year

Analysts see the rand firming to R8.32 against the dollar(SABC)

Tags:

• South Africa
• US dollar
• global economy

International business leaders say the rand is set to strengthen nearly 4% to the US dollar this year as South Africa's trade deficit stabilises and the global economy gains traction. 

The rand underperformed last year, shedding almost 5% since the start of 2012 due to a ballooning current account deficit and labour unrest. 

A Reuters poll of 24 analysts see the rand firming to R8.32 against the dollar. 

According to Reuters, growth is expected to expand to 2.7% this year.