South African Currency Up on Risk, Capital Repatriating

The South African rand was one of the best performing currencies today in foreign-exchange markets as appeal for higher-yielding commodity exporter currencies was high, providing support for the rand to beat even an attractive dollar in today’s session.

Speculations that South African exporters are repatriating capital to the nation before the end of the year also forced the rand further up in a session that virtually all events provided support for the rand to gain against most currencies, specially safe refuges like the yen and the Swiss franc.

USD/ZAR traded at 7.4125 as of 17:35 GMT from an opening rate of 7.5093.

If you have any questions, comments or opinions regarding the South African Rand,
feel free to post them using the commentary form below.