The South African rand declined today as worries about the European crisis and its impact on the global economy deepened, reducing demand for
The world still looks at Europe, trying to predict how the situation will progress. South Africa is particularly interested in the wellbeing of the European Union, which is the nation’s biggest trading partner. The subdued inflation expectations makes analysts to expect the South African Reserve Bank to keep the interest rates unchanged. The central bank was keeping the rates even as the inflation was growing.
USD/ZAR went up from 7.9820 to 8.1710 today as of 17:17 GMT.
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