empty
 
 

2017.09.2110:07:00UTC+00South African Rand Advances Against U.S. Dollar After South Africa Decision

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.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback