The US dollar bounced back from European session's multi-week low of 7.2786 against the South African rand during New York trading on Wednesday. The greenback climbed to 7.3401 versus the rand in New York morning deals, compared to 7.2978 hit late New York Tuesday. The dollar is presently trading at 7.3333 versus the South African unit. The next upside target level for the US currency is seen at 7.4696.

New vehicle sales in South Africa dropped 12.1% year-on-year to 30,019 in November, the National Association of Automobile Manufacturers of South Africa reported on Wednesday. Factoring in aggregate vehicle sales reported by the AMH / AAD Group, the year-on-year decline amounted to 6.3%. New car sales decreased 3.9% annually to 19,317.

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