Warren Buffett“A public opinion poll is no substitute for thought.”
Adlin Sinclair“Success is a welcomed gift for the uninhibited mind.”
South African Rand Remains Bullish on Dubai Optimism
TheSouth African rand extended gains from last week asconcerns regarding Dubai’s debt declined today, providing support forrisk fueled traders topurchase assets inemergent markets andcommodity linked countries like South Africa.
After theAbu Dhabi financial authority bailed out Dubai with $10 billion, concerns that amajor debt disaster involving European banks cooled down today, allowing risk appetite togrow andforcing thegreenback down versus theSouth African rand.
USD/ZAR declined andclosed at7.5150 today from anopening rate of7.5438.
If you want tocomment ontheSouth African rand’s recent action orhave any questions regarding this currency, please, feel free toreply below.
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