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Name | Symbol | Market | Type |
---|---|---|---|
United States Dollar vs South African Rand | FX:USDZAR | Forex | Exchange Rate |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0599 | -0.33% | 18.34465 | 18.30523 | 18.38407 | 18.45714 | 18.23056 | 18.413 | 0 | 23:07:41 |
The South African rand edged higher against the US dollar on Wednesday morning after a government report showed that the nation's inflation rose in December at a lesser pace than expected.
The rand rose 1 percent to 7.56 against the greenback by 8:00 am ET from a session's low of 7.6417. The domestic currency is approaching 7.5410 resistance in near-term, which could set its strongest mark in more than 5 days. The dollar-rand pair that closed yesterday's deals at 7.5811 is presently quoted at 7.5818.
The Statistics South Africa announced that the consumer price index or CPI rose 6.3% year-on-year in December, faster than the 5.8% growth in the previous month. Economists expected an increase of 6.4%.
On a monthly basis, the CPI increased 0.3% in December, after a flat reading in November. Economists were looking for an increase of 0.4%.
1 Year US Dollar vs ZAR Chart |
1 Month US Dollar vs ZAR Chart |
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