Monday, 29 August 2011

Rand Advances with Stocks & Metals

The South African rand met currently, reaching its highest level in additional each week against the U.S. dollar, as stocks and advanced metals, when speaking of the Federal Reserve, Ben S. Bernanke last week. 

Bernanke said Friday that the Fed has recommended that to support the expansion of the U.S. economy, improved market confidence. the most stock index in South Africa rose one.7% prices the London Metal Exchange rose for the fourth consecutive day. The South African economy is administrated isn't pretty much as good, however, and lots of investors are convinced that the country's central bank might cut back interest rates.

USD/ZAR fell from 7.1300 to 7.0810 today as of 9:56 GMT and touched 7.0680 — the lowest level since August 17.

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