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South African Rand Declines to Six-Year Low on Credit Turmoil

Posted by thekritz 1222 days ago (http://www.bloomberg.com)
Category: Currencies | Tags: credit crisis rand south africa
The carry trade is gradually coming to an end: South Africa's rand fell to the lowest in almost six years against the U.S. dollar as investors abroad unwound so-called carry trades to bring money home after stocks tumbled in Europe and Asia.
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