South African Rand Rises To 2-day High Versus Greenback
February 11 2010 - 1:46PM
RTTF2
After a slight drop in early morning deals, the South African
currency edged up against the US dollar in New York afternoon
trading on Thursday. At 2:35 pm ET, the rand climbed to a 2-day
high of 7.6372 versus the greenback from early low of 7.7400. The
pair closed yesterday's New York session at 7.7459.
South African manufacturing output grew 3.2% in December from
the prior year, reversing a revised 4.6% decline in November,
Statistics South Africa announced Thursday. Economists were looking
for an annual fall of 0.5%.
Factory output rose by a seasonally adjusted 3% in December,
while the expected growth was just 0.1%. During October to
December, output volume was down 4.3% from the last year.
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