The South African rand touched a one-week high versus the U.S. dollar today as demand for several commodities produced in the country emerged, providing support for the African nation’s currency to advance despite negative speculations.
Despite analysts overview for the rand, suggesting it may decline as interest rates are likely to be raised in U.S. in 2010, the rand rose today to a
USD/ZAR traded at 7.5915 as of 17:48 GMT after trading as high as 7.6150 yesterday.
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