South African Rand Slips To 3-day Low Versus Greenback
13 November 2009 - 8:22AM
RTTF2
The South African rand traded lower against its US counterpart
in New York deals on Thursday. The rand slipped to a 3-day low of
7.4889 versus the greenback by about 3:35 pm ET, compared to 7.3637
hit late New York Wednesday.
Today, a report by Statistics South Africa said the mining
output dropped 15.9% year-on-year in September, faster than a 8.4%
fall in the previous month. This was the second consecutive month
of fall.
Seasonally adjusted, mining output slipped 6.2% in September. In
the quarter ended September, mining output dropped 7.5%, while in
the first nine months of the year, output was down 7.7%.
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