Bloomberg News

Rand Pares Gain After Credit Growth Unexpectedly Accelerates

August 30, 2011

Aug. 30 (Bloomberg) -- South Africa’s rand pared its advance versus the dollar after the Pretoria-based Reserve Bank reported that credit growth unexpectedly accelerated in July.

The rand traded at 7.0464 per dollar as of 8:10 a.m. in Johannesburg, from as strong as 7.0225 before the credit data was released.

To contact the editor responsible for this story: Robert Brand at rbrand9@bloomberg.net


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