South African Rand Rises From 4-week Low Against Greenback
13 August 2009 - 1:08AM
RTTF2
The South African rand gained ground against the US dollar in
New York deals after touching previous session's 4-week low of
8.2080 on Wednesday. The rand climbed to 8.0350 versus the
greenback by about 1:15 pm ET, compared to Tuesday's North American
session close of 8.0500. Currently, the pair is trading near
8.0738.
Today, the Statistics South Africa announce that the retail
sales at constant prices decreased 6.7% year-over-year in June,
compared with a 4.4% fall in May, revised from 4.2% decline
reported initially. Economists had expected a decline of 4.5%.
In second quarter, retail sales decreased 6% compared to the
previous year.
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