South Afrian Rand Trades Near Record Low Against U.S. Dollar
December 09 2015 - 9:40PM
RTTF2
The South African rand stayed near yesterday's record low
against the U.S. dollar on Thursday, amid jitters over the removal
of nation's Finance Minister Nhlanhla Nene, in a cabinet
reshuffle.
President Jacob Zuma named David Van Rooyen as Nene's
successor.
The move shocked investors who have already been worried about
commodity rout, as well as uncertainty over the Fed rate hike next
week.
The rand reached as low as 15.1323 per dollar, heading towards
Wednesday's record low of 15.3086. The pair ended yesterday's deals
at 14.9545.
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