Thursday saw the South African rand reverse four days of losses against the U.S. dollar after stronger economic data boosted the monetary unit, Bloomberg reports. The largest economy on the African continent saw strong manufacturing leading up to January and healthy generation in the mining industry since August 2012. South Africa's current account deficit is… Read more.
South African Rand
Tuesday saw the South African rand rise from its nearly four-year low against the U.S. dollar as sentiment grew about the currency’s losses being overdone, Bloomberg reports. After scraping its lowest value since the middle of April 2009 following a 2.4 percent dive on Monday, the monetary unit of the largest economy in the African continent… Read more.
The South African rand advanced on Thursday against the U.S. dollar as the Reserve Bank of South Africa prepared to convene, Bloomberg reports. With a repo rate at 5 percent, policy makers could go either way. A Bloomberg survey of 21 economists revealed unanimous agreement that the rate will remain unchanged. But policy makers with… Read more.
Monday saw the South African rand gain in value on Monday after six consecutive days of losses were considered to be overdone, Bloomberg reports. The currency of the largest economy on the African continent dropped to its lowest value since early December 2012 after Fitch Ratings cut South Africa’s credit rating. The service cited developmental… Read more.
The South African rand slipped in value on Tuesday as a consequence of a credit rating service slashing the rating of the second-largest economy in the euro zone, Bloomberg reports. The monetary unit of Africa's largest economy ended three consecutive days of gains after Moody's Investors Service pulled down France's credit rating from AAA to… Read more.
Wednesday saw the South African rand drop in value for a third-straight day against the U.S. dollar after economic data indicated labor protests two months ago were harmful to the nation's fiscal operations, according to Bloomberg. The largest economy of the African continent saw its current-account gap suffer from reduced metal exports in September, which… Read more.
Friday saw the South African rand lose value against the world's reserve currency as the monetary unit of Africa's largest economic system headed toward weekly losses, according to Bloomberg. This week's losses to the dollar are roughly 0.1 percent and mark the first losses in four weeks. South Africa's jobless rate increased during the third… Read more.
The value of the monetary unit of the African continent's largest economy slipped Wednesday in the aftermath of economic data indicating the nation's inflation rate increased more than forecast last month, Bloomberg reports. The Reserve Bank of South Africa is now facing decreased space and opportunity to spur its economy. Inflation pushed to 5.5 percent… Read more.
The monetary unit of the African continent's largest economy rose in value on Tuesday amid optimism for the central bank of the U.S. implementing additional stimulus, according to Bloomberg. The South African rand benefited from prospects that the policy-making arm of the U.S. Federal Reserve will discuss additional strategies of spurring the globe's largest economy… Read more.
The value of the monetary unit of the African continent's largest economy pushed to its top level in more than four weeks against the U.S. dollar on Tuesday after Germany endorsed ideas of the chief of the central bank of Europe to challenge the sovereign debt crisis, according to Bloomberg. The South African rand touched… Read more.