Forex News

This year started with a growing demand for metallic commodities as investors expect that the global economic recovery will rise industries’ needs for raw materials, helping the South African currency to start the year bullish.

The rand managed to hit a one-month high versus the U.S. together backed mostly by an increase in the gold rates, in a risk fueled session were emerging markets and commodity producer currencies outperformed other options in foreign-exchange markets.

USD/ZAR traded at 7.3618 from a previous close at 7.3825 in the last trading session of 2009.

If you want to comment on the South African rand’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the South African Rand:

• South African Currency Up on Risk, Capital Repatriating (2009-12-29)
• South African Rand Advances on Demand for Metals (2009-12-24)
• South African Rand Down as Greenback Appeal Rises (2009-12-21)
• South African Rand Remains Bullish on Dubai Optimism (2009-12-15)
• South African Rand Down on Commodities, Dubai Debt (2009-11-27)

This entry was posted on Monday, January 4th, 2010 at 8:10 pm and is filed under South African Rand. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.