South African current account deficit still high, rand at six-year low

By Stella Mapenzauswa PRETORIA (Reuters) - South Africa's current account deficit narrowed less than expected in the third quarter, sending the rand to a six-year low. The shortfall in the current account balance narrowed to 6.0 of GDP in the third quarter of the year from a revised shortfall of 6.3 percent previously. But economists had forecast a 5.8 percent gap. The data is likely to be a worry for policymakers and investors before Fitch and Standard and Poor's review on Friday thei