South African Rand Eases From 1-year High Against Greenback
September 07 2009 - 8:46AM
RTTF2
The South African rand eased from European session's 1-year high
of 7.5682 versus the US dollar in New York trading on Monday. The
rand slipped to 7.6200 versus the greenback by about 8:50 am ET,
compared to last week's close of 7.6030. Currently, the pair is
worth 7.5800.
South Africa's gross reserves increased to US$37.9 billion at
the end of August from US$35.7 billion in July, the South African
Reserve Bank said Monday.
Foreign exchange reserves widened to US$34.1 billion from
US$31.9 billion, while gold reserves rose slightly to US$3.79
billion from US$3.75 billion. Meanwhile, the net international
reserves totaled US$36.9 billion, up from US$34.6 billion in
July.
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