South African Rand Slides To Historic Low Against U.S. Dollar
September 24 2015 - 4:24AM
RTTF2
The South Afrcian Rand continued its decline against the U.S.
dollar on Thursday, amid sell-off in commodities and speculation of
a rate hike by the Federal Reserve later this year.
Market participants await the Federal Reserve Chair Janet
Yellen's speech later in the day for additional clarity on when the
U.S. central bank plans to raise interest rates.
Worries about a slowdown in China and its spillover effects in
global economy dented the demand for commodities.
The South African Rand that closed Wednesday's trading at 13.84
against the greenback slipped to a record low of 14.03.
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