South African Rand Rises To 2-week High Versus Greenback
01 April 2010 - 7:13AM
RTTF2
After trading sideways in early morning deals, the South African
rand gained ground against its US counterpart during New York
afternoon trading on Wednesday. At 1:05 pm ET, the rand jumped to a
2-week high of 7.2550 versus the greenback, which may be compared
to Tuesday's North American session close of 7.3721. AS of now, the
pair is worth 7.2827.
South Africa's trade deficit stood at ZAR 5.69 billion in
February, widening from ZAR 3.3 billion deficit in the previous
month, the South African Revenue Service said on Wednesday. A year
ago, the trade deficit was ZAR 0.57 billion.
Exports increased 10.06% on a monthly basis to ZAR 40.26 billion
in February, while imports climbed 14.96% to ZAR 45.95 billion.
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