The_Pumpkin_King
Jedi Master
Rand falls, tracks weaker equities
South Africa's rand fell as much as 2.2 percent against the dollar, tracking weaker equity markets in the face of nagging worries over the frail global economy.
Rand is still vulnerable on fear over the global outlook, and it was not helped by the disappointment over US Treasury Sec Paulson's reluctance to ask for the second $350b funds to help the ailing US Economy. There has also been more gloomy financial sector headlines and stories of hedgefund liquidations (Citigroup) that all add to the negative sentiment in the market.
O.T.R: dollar @ 10.58
british pound sterling @ 15.87
euro @ 13.24
buying $ notes: 10.31
selling $ notes: 10.83
South Africa's rand fell as much as 2.2 percent against the dollar, tracking weaker equity markets in the face of nagging worries over the frail global economy.
Rand is still vulnerable on fear over the global outlook, and it was not helped by the disappointment over US Treasury Sec Paulson's reluctance to ask for the second $350b funds to help the ailing US Economy. There has also been more gloomy financial sector headlines and stories of hedgefund liquidations (Citigroup) that all add to the negative sentiment in the market.
O.T.R: dollar @ 10.58
british pound sterling @ 15.87
euro @ 13.24
buying $ notes: 10.31
selling $ notes: 10.83
