South African Rand Hits 10-day High Versus Greenback
02 February 2010 - 8:05AM
RTTF2
The South African currency surged up against the US dollar in
New York trading on Monday. The rand climbed to a 10-day high of
7.4839 versus the greenback by about 2:35 pm ET, compared to 7.6262
hit late New York Friday. The rand is presently trading near 7.4864
versus the dollar.
South Africa's seasonally adjusted purchasing managers' index
stood at 53.6 in January, up from 52.5 in the previous month,
Kagiso Securities said on Monday. This was the highest reading
since April 2008. A reading above 50 indicates expansion, while one
below 50 suggests contraction.
Economic news from the U. S. side, the U.S. Institute for Supply
Management reported that, the index of activity in the
manufacturing sector jumped to 58.4 in January from 54.9 in
December, with a reading above 50 indicating growth in the sector.
The increase by the index exceeded the expectations of economists,
who had expected the index to edge up to a reading of 55.5.
US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Jun 2024 to Jul 2024
US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Jul 2023 to Jul 2024
