Tag Archives: south africa rand

South African rand tumbles against dollar

The South African rand fell sharply against the US dollar as markets opened in Johannesburg today, after five days of maintaining a range. Much of the move was due to risk aversion as investors moved out of risky assets such as emerging market currencies and the US dollar gains on safe haven demand. The South African currency has been under pressure since last week when Moody’s...

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October 23, 2012 @ 7:47 am

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South African rand tumbles against dollar

The South African rand fell sharply against the US dollar as markets opened in Johannesburg today, after five days of maintaining a range. Much of the move was due to risk aversion as investors moved out of risky assets such as emerging market currencies and the US dollar gains on safe haven demand. The South African currency has been under pressure since last week when Moody’s downgraded...

Continue reading...

October 23, 2012 @ 7:47 am

1 Comment