Wednesday, July 25, 2007

Rand loses ground as dollar bounces back

(Reuters) - South Africa's rand weakened against the dollar on Wednesday as the greenback clawed back ground across the board on overseas markets, with a rating upgrade by Fitch only briefly boosting the domestic unit.

At 1520 GMT the rand was trading at 6.8980 versus the dollar, down O.43 percent from New York's Tuesday close of 6.8688 and reversing some of the strong gains which saw it touch fresh 11-month highs at the start of the week.


Read more at Reuters Africa

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