South African Rand Regains From 4-day Low Against Greenback
23 June 2010 - 4:13AM
RTTF2
The South African rand, which closed yesterday's New York
session at 7.5106 against the US dollar, slipped to a 4-day low of
7.5821 at about 8:15 am ET Tuesday. Thereafter, the pair reversed
its direction and currently trading near 7.5559.
South Africa's non-farm employment and gross earnings decreased
in the first quarter.
The number of people employed in the formal non-agricultural
business sector decreased 1% on a sequential basis in the first
quarter, in contrast to a 0.2% increase in the previous quarter. A
year ago, the employment slipped 2.2%. The number of persons
employed in the non-farm sector decreased by 79,000 to 8.08 million
in the first quarter from 8.16 million in the final three months of
2009.
On an annual basis, the number of non-farm employment dropped
2.9% in the first quarter, following a 4.1% fall in the fourth
quarter. The employment decreased for the fifth straight
quarter.
Meanwhile, the gross earnings paid to employees in the
non-agricultural business sector declined 4.6% sequentially in the
first quarter, compared to a revised 12.1% growth in the fourth
quarter last year. The gross earnings decreased to ZAR 289.44
billion from ZAR 303.36 billion. On an annual basis, gross earnings
grew 11.7% in the first quarter, faster than the 10.7% growth in
the preceding quarter.
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
