Dollar Eases From Early Highs Against South African Rand
16 December 2009 - 7:19AM
RTTF2
After trading higher in early morning deals, the US currency
edged down against the South African rand in New York mid-day deals
on Tuesday. The greenback is currently trading near 7.4430 versus
the rand from early morning session's high of 7.5048. The
dollar-rand pair closed yesterday's New York session at 7.3986.
Tuesday, the Statistics South Africa announced that the consumer
price index or CPI increased 5.8% year-on-year in November, slower
than the 5.9% growth in the previous month. Economists expected an
increase of 5.9%.
Food and non-alcoholic beverages prices rose 4.7% on an annual
basis in November, while clothing and footwear prices rose 5.1%.
Transport charges fell 0.6%.
On a monthly basis, consumer prices remained unchanged in
November, slower than the 0.1% increase expected by
economists'.
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