Archive for the ‘South African Rand’
(South African) Rand Strengthens as Global Recovery Gains Momentum
The South African rand extended its gains against the U.S. dollar for the fourth consecutive day as the speculation that the global economic recovery is gaining momentum encourages the investors to purchase the higher-yielding assets. The International Monetary Fund forecast that the global economy would grow by 4.6 percent in 2010, the biggest increase since 2007. The investors bet on the increase of the 6.5 percent benchmark interest rate by the central bank on July 22. USD/ZAR [...]