The South African rand fell today for the third day against the US dollar as the economists predict that the report would show the slower pace of the manufacturing growth, signaling that South Africa’s economy declines.
According to the analysts’ estimates, the manufacturing expanded 6 percent in July, compared with 8.8 percent in June. The manufacturing accounts for about 15 percent of South Africa’s economy. The nation’s economic growth slowed from 4.6 percent in the first quarter of 2010 to 3.2 percent in the second.
USD/ZAR rose from 7.266 to 7.276 today as of 8:29 GMT. On the previous week the currency pair slumped to 7.149, the lowest level in more than two years.
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