The South African rand trades near opening level after it rose previously as the gold prices remain near the record level and on the expectation the report would show this week that the nation’s traded deficit decreased in the second quarter.
Gold gained 0.5 percent, rising for the third consecutive day, to of $1,283.38 per ounce, the record high level in all times. The analysts estimated that South Africa’s current account deficit decreased from 4.6 percent in the first quarter of this year to 3.2 in the second quarter.
USD/ZAR traded near it opening level of 7.140 as of 15:20 GMT after it fell to the intraday low of 7.098.
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