rand

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International

An economist: “There may not be cause for concern as the dollar has been trading against all currencies”

By Kouthar Sambo The rand is weakening against global currencies following the ZAR trading at around R18.26 against the dollar at the close of business on Tuesday. Speaking on VOC's PM Drive show on Wednesday, an economist Ulrich Joubert said there may not be cause for concern as the dollar has been trading against all currencies. "This afternoon the rand was at R18.31 to the dollar, but the rand went […]

today24 July 2024

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Local

The rand takes an all time hit since the Lady R incident

By Kouthar Sambo The Lady R case has impacted the country’s economy since the announcement by US Ambassador to South Africa Rueben Brigety claimed in May that South Africa supplied Russia with arms in December through the Lady R cargo vessel. The incident resulted in the rand taking a significant hit. While it may have recovered weeks later, recent reports indicated that the matter had not been entirely resolved since […]

today5 October 2023

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Local

Rand slips amid continuous rolling blackouts

The rand has weakened by more than 1% on Monday, and continues to trade at its weaker level on Tuesday morning at R17, 60 to the US dollar. This is, however, in line with weakness in other emerging market currencies on the back of a stronger dollar. The dollar’s strength can in part be explained by the expectation of a continued rise in US interest rates to combat the highest […]

today7 February 2023

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Local

The rand hammered to lowest level since 2016

The rand plunged by almost 8% against the dollar on Monday, almost touching R17/$, as investors fled riskier assets, with tumbling oil prices adding to nervousness spurred by the spreading coronavirus. While global sentiment was the largest factor in the rand’s performance - with the currency seen as a proxy for its emerging-market peers - local factors including renewed rolling power cuts by Eskom and a downbeat assessment by Moody’s […]

today9 March 2020

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