Saturday, January 2, 2010

Market Intelligence - Currencies

During the week of 28 December 2009 – 1 January 2010, most African currencies fluctuated within the range of ± 2.6% against the US dollar. Mozambique’s Metical recorded a loss of 10.2% over the week, offsetting the earlier weekly gain of 11.5%.

The Rand appreciated against the US dollar by 2.2% over the week, mainly driven by the announcement of improved trade balance for November 2009. The trade deficit narrowed to 2.5 billion Rand (about USD 340 million) in November 2009, after a 6.7 billion Rand (about USD 900 million) deficit in the previous month. For this week's Market Intelligence Table, click here.