Greenback Rises From 6-day Low Against South African Rand
January 28 2010 - 1:45PM
RTTF2
The US currency ticked up against the South African rand during
New York trading after touching a 6-day low of 7.5364 in European
deals on Thursday. At 12:50 pm ET, the greenback climbed to 7.6438
versus the rand, which may be compared to yesterday's New York
session close of 7.5953. As of now, the pair is worth 7.6011.
Thursday, the Statistics South Africa announced that the
producer price index or PPI rose 0.7% year-on-year in December,
compared to the 1.2% fall in the previous month. Economists
expected an increase of 0.4%. A year ago, the PPI was up 11%.
On a monthly basis, the PPI climbed 0.7% in December, faster
than the 0.4% increase expected by economists.
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