South African Rand Surges Up From 1-month Low Against Dollar
03 October 2009 - 12:20AM
RTTF2
The South African rand surged up from morning session's 1-month
high of 7.7873 versus the US dollar during New York afternoon deals
on Friday. The rand jumped to 7.5910 versus the greenback by about
2:00 pm ET, which may be compared to Thursday's New York session
close of 7.7080. Currently, the pair is worth 7.6115.
South Africa's new vehicle sales dropped 22.4% year-on-year in
September to 31,726 units, the National Association of Automobile
Manufacturers of South Africa or NAAMSA said in a report
Friday.
In the first nine months of the year, vehicle sales dropped
30.3% year-on-year to 294,481 units.
Meanwhile, export sales slipped 49.3% on a yearly basis in
September to 13,974 units. The association does not expect export
sales to improve in the short to medium term.
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