South Africa has regained its position as Africa’s largest economy in dollar terms after hovering between second and third place.
In April 2014, Africa’s most advanced economy was relegated to second place by Nigeria after the West African country rebased its gross domestic product (GDP) data.
The change comes as the rand gained over 16 per cent against the dollar since the start of the year, while Nigeria’s naira lost over a third of its value following the Central Bank of Nigeria’s removal of the country’s currency peg in June, says the media company.
-CNBC Africa And Bloomberg
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