Wednesday, March 10, 2010

Market Intelligence - Currencies

During the week of 1 – 5 March, most African currencies appreciated vis-à-vis the US dollar by up 4.4%. Only nine currencies in Angola, Djibouti, Gambia, Liberia, Mauritania, Mozambique, Sierra Leone, Somalia and Uganda depreciated against the US dollar by up to 1.2% over the week.

Currency Focus

South Africa: The Rand appreciated against the US dollar by 4.4% over the week, partly driven by positive investor reactions to the Greek government’s announcement of additional deficit cuts of 4.8 billion Euros. This week's edition of Market Intelligence is available here.