S. African Rand Hits 2-month High Versus Greenback As South Africa Rates On Hold
January 19 2012 - 11:46AM
RTTF2
The South African rand traded higher against the US dollar after
the South Africa's central bank announced its key interest rate
remained unchanged for the seventh consecutive session in early
trading on Thursday.
The Monetary Policy Committee (MPC) of the South African Reserve
Bank kept the repurchase rate steady at 5.5 percent. The decision
was in line with economists expectations.
The rand climbed to more than a 2-month high of 7.8985 versus
the greenback in today's mid-day deals from yesterday's closing
value of 7.9575.
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