SA's current account deficit narrows

The current account deficit has narrowed in the second quarter of the year to 3.1% of GDP.

A file photo shows shoppers at the new South African retail giant Shoprite. Picture: AFP.

CAPE TOWN - The South African Reserve Bank says the country's current account deficit has narrowed in the second quarter of the year to 3.1% of GDP.

That's from a revised deficit of 5.3% in the first quarter.

Economists had expected a 3.6% deficit for the second quarter.

He adds this latest figure could provide a bit of support for the battered rand.

"It suggests that going forward the rand could regain some resilience as a result of being less dependent on strong portfolio inflows to the extent that we've needed them in recent years."