South African rand recovers after falling to all-time low against U.S. dollar



South Africa’s currency firmed in early trade on Monday, recovering from an all-time low it hit against the U.S. dollar last week. The rand traded at 19.02 against the dollar earlier, recovering from the 19.51 it hit on Friday which marked its lowest point ever.

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4 thoughts on “South African rand recovers after falling to all-time low against U.S. dollar

  1. it's easy for currency speculators, backed by the U.S. Fed Reserve and major American banks, to stage at attack on the Rand. This can cause Rand to collapse after which they can exert political pressure and impose IMF conditions on South Africa. The most important thing is for South Africa to work out a BRICS currency. Once you can trade in a common BRICS special drawing rights currency, U.S. speculators won't be able to attack the Rand effectively anymore.

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