Rand Off New Multi-week Lows Against Dollar As South Africa Keeps Rate On Hold
January 26 2010 - 9:27AM
RTTF2
Tuesday, the rand stabilized after hitting a fresh multi-week
low against its US counterpart following the South African central
bank's decision to keep its key interest rate unchanged at 7% for
the fourth consecutive meeting, as expected.
The South African rand is presently quoted at 7.6275 against the
greenback, compared to a fresh multi-week low of 7.6708 hit in the
early European session. The greenback-rand pair was worth 7.5717 at
Monday's close.
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