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African countries struggle with appreciated US dollar

by ChemOrbis Editorial Team -
  • 10/11/2015 (15:23)
African countries have been struggling against the appreciation of the US dollar while the local currencies lose value.

In South Africa, last week, the rand hit an all-time low following the increases in US jobs figures, which strengthened the prospects of an interest rate hike next month by the Federal Reserve.

Meanwhile, in Kenya, the shilling continued to lose further ground against the US dollar on the back of the improved demand for dollars, especially coming from the manufacturing sector.
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