South African Rand Advances Against U.S. Dollar After South Africa Decision
September 21 2017 - 6:07AM
RTTF2
The South African Rand climbed against the U.S. dollar in early
New York deals on Thursday, erasing early losses, after the the
South African Reserve Bank kept its interest rate unchanged, citing
heightened uncertainties in the economy.
The Monetary Policy Committee retained the repo rate at 6.75
percent.
The bank noted that the economic growth is expected to remain
subdued against a backdrop of continued political and policy
uncertainty.
The rand climbed to 13.25 against the greenback, off its early
more than 5-week low of 13.40.If the rand extends rise, 12.00 is
likely seen as its next resistance level.
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