South African Rand At 3-day Low Against U.S. Dollar
15 January 2016 - 7:18PM
RTTF2
The South African Rand drifted lower against the U.S. dollar in
European deals on Friday, as global aversion amid fears over
slowing growth in China hurt emerging market assets.
Oil price fell below $30 a barrel amid speculation that OPEC
will continue pumping oil at a breakneck pace despite the global
supply glut.
The South African Rand declined to a 3-day low of 16.70 against
the greenback, compared to Thursday's closing value of 16.43. The
rand is likely to find support around the 17.8 zone.
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