South African Rand Climbs To More Than 9-month High Versus U.S. Dollar
04 Agosto 2016 - 11:28PM
RTTF2
The South African Rand drifted higher against the U.S. dollar in
European deals on Friday, after South Africa's governing African
National Congress faced electoral setback in municipal elections on
Thursday.
The party lost control in Nelson Mandela Bay municipality, which
includes Port Elizabeth, as well as the capital, Pretoria, giving a
blow to President Jacob Zuma, who faces accusation of mismanaging
the economy.
The South African Rand climbed to 13.66 against U.S. dollar, a
level not seen since October 2015. The South African Rand is likely
to find resistance around the 12.5 zone.
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