South African Rand Slides To 1-week Low Versus Greenback
December 17 2009 - 2:06PM
RTTF2
During New York mid-day deals on Thursday, the South African
rand plunged to its lowest level in almost 1-week against the
dollar, touching 7.5838. This may be compared to yesterday's close
of 7.4299. As of now, the rand is worth 7.5250 versus the dollar.
If the South African currency moves down further versus the buck,
it may likely test support around the 7.6331 level.
Thursday, the Statistics South Africa announced that the
producer price index or PPI dropped 1.2% year-on-year in November,
compared to the 3.3% fall in the previous month. Economists'
expected a decline of 1.8%.
On a monthly basis, producer prices increased 0.8% in November,
after falling 0.1% in October. Economists were looking for an
increase of 0.2%.
Export price index dropped 11.9% on an annual basis in November,
while import prices fell 5.7%. Month-on-month, export and import
prices increased by 1.2% and 2% respectively in November.
US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Jun 2024 to Jul 2024
US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Jul 2023 to Jul 2024
