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South African Rand Hits 19-day High Versus Greenback 10 days ago
(RTTNews) - Against its US counterpart, the South African rand traded higher during New York deals on Tuesday. At about 10:30 am ET, the rand climbed to 7.3726 versus the greenback, which may be compared to yesterday's closing value of 7.4313. This set a 19-day high for the South African currency. Currently, the pair is at 7.3938. The rand has been in an upward channel against the greenback for the past 8 days.
Today, a report by Statistics South Africa said the volume of manufacturing output fell 11.4% year-on-year in September, slower than a 15.2% drop in the previous month. Economists expected a 13.1% decline. Output has been falling continuously since October last year.
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