Monday, January 29, 2007

Rand a tad stronger on weaker dollar

South Africa's rand firmed slightly against the dollar on Tuesday as investors trimmed dollar positions ahead of a U.S. monetary policy meeting, fearing a possible cut in interest rates in that country.

The rand was quoted at 7.3035 at 0700 GMT, two cents firmer than its New York close on Monday. The local currency was about 0.5 percent better off than in late Johannesburg trade.

Read Full Article at Reuters South Africa

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