Risks rise with rand volatility
Nov 27, 2012 (Menafn - The Australian Financial Review - ABIX via COMTEX) --Fears about a possible investment grade rating loss by South Africa and ongoing industrial action in its resources sector have dragged down the foreign exchange rate of the rand currency. It is trading at nine to the US dollar in late November 2012, down from 7.4 in February and a low not witnessed since April 2009. South African Reserve Bank deputy governor Lesetja Kganyago warns of further volatility. The softer currency is hampering the central bank's ability to stimulate the South African economy via interest rate cuts.
Publication Date: 28 November 2012
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