South African Rand At Weekly Low Against U.S. Dollar
February 24 2016 - 3:19AM
RTTF2
The South African Rand slipped against the U.S. dollar in
European deals on Wednesday, sell-off in the oil intensified after
the Saudi oil minister dashed hopes for production cut to curb
supply glut.
South African Finance Minister Pravin Gordhan presented the 2016
budget, pushing up the budget deficit estimate to 3.9 percent for
2015/16, from 3.8 percent seen in October.
The treasury slashed GDP forecast for 2016 to 0.9 percent, from
1.7 percent forecast in October.
The South African Rand dropped to a weekly low of 15.5892
against the greenback, compared to Tuesday's closing value of
15.2233. If the rand slides further, 16.5 is possibly seen as its
next support level.
US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Mar 2024 to Apr 2024
US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Apr 2023 to Apr 2024
