JOHANNESBURG (Reuters) &#8211; South Africa’s rand opened stronger on Friday and was on course for gains of roughly 2% against the dollar this week, after the first current account surplus in 17 years and an upbeat U.S. jobs report.



At 0650 GMT, the rand traded at 16.9350 versus the dollar, around 0.3% firmer than its previous close.



Government bonds were flat, with the yield on the 2030 bond at 9.27%.



On Thursday, central bank data showed a 1.3% of gross domestic product (GDP) surplus on the current account, which has long been a sore spot for Africa’s most industrialised economy. That added to optimism from the U.S. economy creating jobs at a record clip in June.



Although the rand has enjoyed a good week, it is still down some 17% against the U.S. currency so far this year, partly a reflection of deep-seated concerns about the health of domestic public finances.



The finance ministry predicts a deficit on its main budget of more than 14% of GDP this fiscal year and an economic contraction of over 7% in 2020. An economic recession that began last year deepened in the first quarter, before the coronavirus crisis really took hold, data showed this week.

KONICA MINOLTA DIGITAL CAMERA

South African rand opens stronger after positive data

By Chris Bishop 
Most mines in South Africa – one of the world’s mining capitals – are either shut down or working at reduced output as COVID-19 takes its toll. All but those mines digging vital minerals – like coal for power generation – closed their shafts for fear the disease may spread in the often difficult hot and wet conditions deep underground. 
South African mines have proved resilient since George Harrison first uncovered gold in 1886 in open bush that is now the heart of Johannesburg. They hummed through two world wars and yet a war closer to home and a violent revolt in Johannesburg, the city that gold built, saw the mine shafts shut down. 
The current lockdown for 21 days will be the joint longest for nearly a century. The last time the mines shut down for three weeks was during the 1987 strike when 230,000 miners downed tools between August 10 and 31. One of the architects of the 1987 strike – seen as a kick against apartheid – was a young lawyer by the name of Cyril Ramaphosa. He led the fledging National Union of Mineworkers, which he founded in 1982, after being seconded to the mining industry by the African National Congress. The shutdown saw deaths and hundreds of thousands of dismissals. 
More peaceful was the more recent shut down in January 2008 when Eskom simply ran out of electricity. The gold and platinum mines closed for at least five days; Eskom declared force majeure and production resumed – under 10 to 20% power reductions &#8211; early in February. 
Surprisingly the mining industry survived both world wars. As thousands of black and white South Africans marched off to battle fields across the continent and in Europe the miners went underground to help finance the allied war effort. Britain struck a deal for cut price gold from the Witwatersrand to fund the First World War and was miffed, to say the least, when South Africa demanded full price again after the armistice in 1918. 
This signalled hard times for South African mines.When many white the soldiers returned to South Africa, many complained they were being replaced by cheaper black miners as the mines cut cost. It led to the violent 1922 Rand Revolt when all the Witwatersrand gold mines closed for 10 weeks. 
The strike started on 10 January 1922, halting all gold mining activities, from Springs in the east of Johannesburg to Randfontein in the west. More than 220,000 mine workers downed tools shutting 40 gold mines. 
Planes dropped bombs from the blue, artillery shelled suburban houses, riflemen fought street battles, snipers fired from bedroom windows and tanks rumbled through the suburbs. The fighting around the mines saw 200 people killed and more than a 1000 injured. 
In Brixton – a working class suburb near the centre of Johannesburg – more than 1500 strikers besieged 183 police; warplanes swooped to drop food for the police and returned to drop bombs on the strikers. The attackers fired back shooting one of the aircrew through the heart. The strike was called off on March 17 and the mines went back to work. 
A war closer to home caused the longest closure of the mines. When the South African War broke out on October 11 1899. Many mines were not put on care and maintenance and were allowed to flood. It was only after Johannesburg was captured by the British on 1 June 1900 – nearly nine months later &#8211; that a few mines began production again. The gold mines in what is now Mpumalanga – Pilgrim’s Rest and Barberton-, which was the other major gold mining area after the Witwatersrand, were also closed during the war.

This is how war and revolt have done worse to the mines than COVID-19.

PRETORIA, March 3 (Reuters) &#8211; South Africa entered its second recession in two years in the final quarter of last year, as agriculture, transport and construction contracted, data showed on Tuesday.



Statistics South Africa (Stats SA) said the economy shrank 1.4% in the fourth quarter, following a revised 0.8% contraction in the third quarter.



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Economists polled by Reuters had predicted a contraction of 0.1% in quarter-on-quarter and seasonally adjusted terms.


		
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&#8220;The economy is in recession again. That is two consecutive quarters of contraction, after being in recession in the first two quarters of 2018,&#8221; Joe de Beer, Stats SA&#8217;s deputy director-general for economic statistics, told reporters.



On a quarter-on-quarter basis, agriculture declined 7.6%, transport 7.2%, construction 5.9%, electricity 4% and retail 3.8%, the data showed.



Gross domestic product overall shrank 0.5% year-on-year in the fourth quarter after expanding 0.1% the quarter before. The economy expanded 0.2% in the 2019 calendar year compared with 0.8% in 2018.



South Africa has struggled to emerge from an economic slump in the two years since Cyril Ramaphosa became president, promising sweeping reforms.



The Treasury has cut 2020 economic growth forecast to 0.9%. 



(Reporting by Mfuneko Toyana and Tumelo Modiba; writing by Olivia Kumwenda-Mtambo; editing by Larry King)

South African economy enters recession, what you need to know

JOHANNESBURG &#8211; South Africa’s rand firmed on Friday as an unexpected bounce in Chinese factory activity helped offset concerns over prospects of a U.S.-China trade pact and skittishness ahead of a long-awaited decision on South Africa’s credit rating.



The rand traded at 15.0600 versus the greenback by 0505 GMT, 0.31% stronger compared with the previous day’s close.



The currency had been losing ground following a bleak budget speech on Wednesday, where Finance Minister Tito Mboweni slashed growth forecasts and predicted ballooning debt.



That raised fears that South Africa could lose its last investment-grade credit rating on Friday, when Moody’s is set to announce its ratings decision following a review, also knocking confidence in the rand.



However, investor sentiment was given a boost on Friday after a survey showed that manufacturing activity in China expanded at its fastest pace in more than two years in October, lifting Asian shares.



Throughout the day, though, the rand is likely to be driven by Moody’s decision. Peregrine Treasury Solutions said in a note there was no telling the impact a negative adjustment in its rating could have: “For now, it’s just sit back and hold tight, with a new support level of R15.00 having been set.”



Government bonds inched lower, with the yield on benchmark 2026 instrument rising 1 basis point to 8.505%.



Reporting by Emma Rumney; Editing by Aditya Soni

Unexpected bounce in Chinese factory activity lifts South African rand ahead of Moody’s review

JOHANNESBURG, Oct 16 (Reuters) &#8211; South Africa&#8217;s rand tumbled more than 1% on Wednesday to its softest level in a week after state power utility Eskom said it would implement nationwide blackouts for the first time in more than six months due to capacity shortages.



The rand was 1% weaker at 15.0550 per dollar, its lowest since Oct. 10, as of 0615 GMT.



Eskom said it will cut up to 2,000 megawatts of power from the national grid on Wednesday due to a shortage of generating capacity, starting at 0700 GMT (9 am local time) and up until 2100 GMT.



The comments pushed the rand past the crucial 15.00 mark, with deeper losses likely as the session wears on, traders said.



Struggling state power firm Eskom implemented one of the worst power cuts in several years in February, hurting small businesses without backup power generators and industrial firms that consume large volumes of power.



&#8220;There was an initial knee-jerk reaction to the announcement. And the longer it (blackouts) goes on, the worse it will be for the rand,&#8221; said currency dealer at TreasuryOne Andre Botha.



&#8220;Any improvement (in sentiment) will depend on clarity we get from now on about what is happening. But there&#8217;s definitely negative risk across the board,&#8221; Botha said.



A debilitating round of power cuts in February and March pushed first-quarter economic growth into contraction and raised the likelihood of the country losing its last investment-grade rating.



Bonds also weakened, with the yield on the benchmark government paper due in 2026 up 3.5 basis points to 8.27%. 



(Reporting by Mfuneko Toyana, Editing by Sherry Jacob-Phillips)

South Africa’s rand takes a tumble as Eskom plans nationwide power cuts

JOHANNESBURG (Reuters) &#8211; South Africa&#8217;s rand inched slightly up in early trade on Monday, holding near a 3-week high it hit in the previous session, as risk sentiment strengthened following signs of progress in U.S.-China trade talks and a Brexit breakthrough.



At 0610 GMT, the rand was 0.05% firmer at 14.7470 per dollar, not far from Friday&#8217;s rally to 14.7100. 



On Friday, U.S. President Donald Trump said the United States and China had reached a &#8220;Phase 1&#8221; trade deal and suspended a threatened tariff hike, spurring a rally of emerging market currencies led by the rand.



In South Africa, with no local data due in the session, positioning will continue to be influenced to by offshore developments, traders said.



&#8220;The current levels of the local unit likely to attract some dollar buying interest, technically an attempt on 14.6000 remains a likely scenario,&#8221; traders at Nedbank said in a note.



Reports on Friday that European Union and Britain would hold intense talks over the next few days to secure a deal for Britain&#8217;s departure from the bloc as the Oct. 31 deadline looms large, also helped demand for currencies. 



Bonds were slightly firmer, with the yield on the benchmark paper due in 2026 down 0.5 basis points to 8.23%. 



(Reporting by Mfuneko Toyana; Editing by Rashmi Aich)

South Africa’s rand steady following signs of progress in U.S. – China trade talks

JOHANNESBURG (Reuters) &#8211; South Africa’s rand strengthened against the dollar on Monday, with momentum reignited by upbeat remarks from the U.S. Federal Reserve chairman and a Chinese economic stimulus package.



At 0734 GMT the rand was 0.34% firmer at 14.7700 per dollar from an overnight close of 14.8200.



Fed Chair Jerome Powell said on Friday in Zurich the central bank will continue to act “as appropriate” to sustain the economic expansion in the world’s biggest economy, sticking to a phrase that financial markets have read as signalling further interest-rate reductions ahead.



Powell’s remarks came as the Chinese central bank moved on Friday to cut how much cash banks must hold in reserve, releasing liquidity to shore up an economy hit by the Sino-U.S. trade conflict.



Easing policy is also expected in the Eurozone later this week when the European Central Bank (ECB) governing council meets.



“Risk-on trading patterns stemming from this move will be positive for emerging market assets this week,” Rand Merchant Bank’s Siobhan Redford said in a note.



Locally, investors will this week set their eyes on manufacturing and mining production data, which will provide an indication of the activity in the primary and secondary sectors of the economy.



“We expect the rand to trade sideways today and drift around the 14.80 level, but “risk-on” is still evident in the market thus we have a slight bias toward the rand drifting stronger,” Andre Botha, Senior Dealer at TreasuryONE said in a note.



In equities, the broader All-Share index inched up 0.04% to 55,615 points, while in fixed income the yield on the benchmark government bond due in 2026 stood at 8.15%.



Reporting by Nqobile Dludla, editing by Ed Osmond

South Africa’s rand strengthens, reignited by upbeat remarks from U.S. Federal reserve chairman

(Reuters) &#8211; South Africa’s rand was flat early on Monday, holding on to its brief recovery from last week as traders and investors continued to weigh heightened global growth risks against local uncertainty.



At 0740 GMT the rand was 0.1% weaker at 15.3050 per dollar versus a close of 15.2900 on Friday in New York, treading water as risk aversion linked to fears of slowing global growth and a crisis in Argentina lured investors to safe-haven assets.



The rand has fallen more than 6% since the beginning of August, pressured by the rising likelihood of a credit ratings downgrade by Moody’s linked to a massive, additional bailout for state power firm Eskom and signs of slower global growth.



The inversion of the U.S. Treasury bond yield curve &#8211; widely viewed as a sign of looming global recession &#8211; for the first time since 2007, also put pressure on the rand last week, but by Thursday some short-covering had seen it pullback from 11-month lows.



Traders said the rand is likely to remain in a narrow range ahead of Wednesday’s release of local consumer price inflation for July, with the rand’s attraction as a carry yield target the key focus.



Bonds were a touch weaker, with the yield on the benchmark paper due in 2026 adding 0.5 basis points to 8.39%.



Reporting by Mfuneko Toyana; Editing by Toby Chopra

South Africa’s rand flat as investors weigh heightened local, global risks, what you need to know

PRETORIA (Reuters) &#8211; South Africa’s economy nosedived 3.2% in the first quarter from the previous one as its manufacturing sector suffered, according to data that significantly lagged the 1.7% decline economists had expected and sent the rand sharply lower.



Year-on-year growth in Africa’s most industrialised economy was zero compared with forecasts of growth of 0.7%.



“This was the largest economic contraction in almost a decade, &#8230; It was largely driven by manufacturing, then mining,” Statistician General Risenga Maluleke told a news conference.



At 0950 GMT, the rand was around 1.2 percent weaker against the dollar at 14.61.



The data will come as a shock to President Cyril Ramaphosa, returned to office after national elections in May with a pledge to revive growth and attract foreign investment.



Ramaphosa’s reform drive faces formidable obstacles, including factional fighting within his governing African National Congress party, struggling state firms and weak consumer demand.



For 2019 as a whole the economy is expected to expand around 1%, versus growth of 0.8% last year, according to a Reuters poll.



That level of growth is insufficient to make a meaningful dent in poverty or reduce severe inequality, which persists in South Africa more than two decades after the end of white minority rule.



At 0950 GMT, the rand was around 1.2 percent weaker against the dollar at 14.61.



The data will come as a shock to President Cyril Ramaphosa, returned to office after national elections in May with a pledge to revive growth and attract foreign investment.



Ramaphosa’s reform drive faces formidable obstacles, including factional fighting within his governing African National Congress party, struggling state firms and weak consumer demand.



For 2019 as a whole the economy is expected to expand around 1%, versus growth of 0.8% last year, according to a Reuters poll.



That level of growth is insufficient to make a meaningful dent in poverty or reduce severe inequality, which persists in South Africa more than two decades after the end of white minority rule.



Reporting by Mfuneko Toyana; Editing by Alexander Winning and John Stonestreet

South African rand falls as country’s GDP declines in Q1

JOHANNESBURG (Reuters) &#8211; South Africa’s rand gained early on Monday in low-volume trade ahead of a shortened Christmas holiday week, as political instability in the United States curbed the dollar’s recent surge.



Stocks ended higher in trade led by resource firms.



At 1200 GMT the rand was 0.6 percent firmer at 14.5450 per dollar, compared to a close of 14.6300 on Friday in New York.



The dollar index was down 0.19 percent.



The rand, along with other emerging currencies, was hit by a wave of selling going before the weekend, with investors squaring positions and looking to offload risk holdings.



But by Monday risk demand was revived by developments in Washington, with investors fretting over a government shutdown that could continue into January and a report that President Donald Trump has discussed the possibility of firing the head of the central bank.



“A potential U.S. government shutdown, President Trump threatening to fire the Chairman of the Federal Reserve and U.S. politics in general are adding some pressure to the dollar,” said Bianca Botes of Peregrine Treasury Solutions.



Bonds closed flat, with the yield on the benchmark 2026 paper steady at 9 percent.



On the bourse, the Top-40 index rose 1.43 percent to 46,203 points, while the broader all-share was up 1.27 percent at 52,081.



AngloGold Ashanti led the blue-chip index, up 4.4 percent at 184.40 rand.



Bourse heavyweight Naspers rose 3.9 percent on the day to 2,956.30 rand.



Reporting by Mfuneko Toyana; Editing by Subhranshu Sahu

South Africa’s rand gains as U.S. political instability weighs on dollar

JOHANNESBURG (Reuters) &#8211; South Africa’s rand weakened in early trade on Tuesday, in line with falls in stocks amid subdued investor appetite for riskier assets ahead of U.S. midterm elections later in the day.
At 0650 GMT, the rand traded at 14.1175 per dollar, 0.11 percent weaker, having closed in New York at 14.1625.
The currency is expected to trade in a range of 14.1000 to 14.4000 to the dollar on Tuesday, NKC African Economics said in a note.
The rand remained under pressure as markets favoured caution ahead of U.S. midterm Congressional elections, as policy decisions that could sway the economy, corporate decision-making and consumer spending hinge on the results.
Emerging market assets will likely respond inversely to movements in the U.S. dollar after the elections.
Government bonds were firmer early on Tuesday, with the yield on the benchmark instrument due in 2026 down 4 basis points at 9.110 percent.
Stocks were set to open lower at 0700 GMT, with the JSE securities exchange’s Top-40 futures index down 0.37 percent.
Reporting by Nomvelo Chalumbira; editing by Richard Pullin

Why U.S midterms are putting pressure on South African rand ahead of elections

JOHANNESBURG (Reuters) &#8211; The South African rand extended its gains against the dollar in early trade on Friday and government bonds firmed as investors moved back into riskier assets, ahead of the closely watched U.S. jobs report.
At 0630 GMT, the rand traded at 14.3050 per dollar, 0.66 percent stronger than its close on Thursday, when it firmed more than 2 percent.
“The dollar has endured a significant correction over the course of the most recent sessions. The rand, after having traded to a high of 14.8525 on Wednesday, is trading sub-14.40 this morning. This is significant, as the 14.50 technical level has held firm so far,” Nedbank analysts said in a note.
“Key now would be price action after the U.S. data release this afternoon,” the note added.
Investors are waiting for U.S. employment data on Friday which could reinforce the view that the U.S. economy is outperforming rivals, driving investors back to the dollar.
The yield on the benchmark government bond due in 2026 dropped 11.5 basis points to 9.17 percent.
Reporting by Olivia Kumwenda-Mtambo; Editing by Sunil Nair

South African rand and government bonds strengthen, here’s why…

JOHANNESBURG (Reuters) &#8211; The South African rand was little changed early on Wednesday, as investor caution reigned ahead of a closely watched budget speech by the country’s finance minister.
At 0550 GMT, the rand traded at 14.2700 versus the dollar, a shade weaker from its close of 14.2625 on Tuesday.
Recently appointed Finance Minister Tito Mboweni is expected to announce revised budget deficit targets and growth forecasts, as well as measures to boost the economy and shore up struggling state-owned companies.
The tone of his medium-term budget speech will influence whether Moody’s strips South Africa of its last investment grade credit rating at a review expected after the speech.
“South Africa’s new finance minister will probably announce further fiscal tightening,” John Ashbourne at Capital Economics said in a note.
“This will likely placate ratings agencies, but supports our view that economic growth will remain weak.”
Government bonds were slightly stronger in early deals, with the yield on the benchmark instrument due in 2026 down 4 basis points to 9.125 percent.
Reporting by Alexander Winning; Editing by Sunil Nair

How is the South African rand performing ahead of finmin Mboweni’s mini budget speech?

JOHANNESBURG (Reuters) &#8211; The South African rand firmed against the globally hobbled dollar early on Friday ahead of the country’s credit review announcement by ratings agency Moody’s later in the day.
The rand was 0.85 percent stronger at 14.5100 per dollar at 0650 GMT, having closed in New York at 14.6350.
The rand is expected to trade between 14.3500 and 14.7000 to the dollar on Friday, NKC African Economics wrote in a note.
Moody’s is the last of the top rating agencies to have Pretoria’s long-term foreign-currency debt in investment grade.
South Africa’s stable outlook on its credit rating means there is little chance of a downgrade, Moody’s said on Sept. 13, but a commitment to fiscal consolidation at the October budget would be key to maintaining the positive rating.
The rand was supported by the slightly-better-than-expected South African manufacturing production data for August.
Globally, the U.S. dollar traded at its lowest level this month against its major peers on Friday as declining U.S. treasury yields and further losses on Wall Street soured sentiment. [FRX/]
In fixed income, the yield on the benchmark government bond due in 2026 fell 1 basis points to 9.255 percent.
Stocks are due open firmer at 0700 GMT, with the JSE securities exchange’s Top-40 futures index up 1.10 percent.
Reporting by Nomvelo Chalumbira; Editing by Ed Stoddard

South African rand firms against US dollar ahead of country’s credit review

JOHANNESBURG (Reuters) &#8211; South Africa’s rand firmed more than one percent in early trade on Tuesday, matching gains by its emerging market peers as criticism of Federal Reserve rate hikes by U.S. President Donald Trump hurt the dollar and revived demand for some risk assets.
At 0630 GMT the rand was 1.1 percent firmer at 14.3700 per dollar, its firmest since Thursday, in what traders said was the beginning of a consolidation pattern with momentum indicators showing the unit was oversold.
The rand’s 3-day Relative Strength Index (RSI), used to identify oversold or overbought signals by comparing the current price to previous periods, dipped below the 70-mark overnight indicating a reversal of the recent bear trend.
The rand crashed to a two-year low last week as the financial crisis in Turkey rattled sentiment towards emerging markets broadly, adding to concerns about the impact of the U.S.-China trade spat on global economic growth.
But with Turkish markets closed for a religious holiday and anticipated talks between the United States and China seen lowering the temperature of the dispute, Trump’s central bank comments were the main catalyst.
In an interview with Reuters Trump said he was “not thrilled” with Federal Reserve Chairman Jerome Powell for raising interest rates, causing the greenback to slide to its lowest level since Aug. 9.
Bonds also firmed, with the yield on the benchmark 2026 paper down 3.5 basis points to 9 percent.
Stocks were set to open a touch lower at 0700 GMT, with the Johannesburg Stock Exchange’s Top-40 futures index down 0.1 percent.
Reporting by Mfuneko Toyana; Editing by Ed Stoddard

South African rand firmer as Trump comments hurt dollar, what you need to know…

London, 15 August 2018 &#8212; The pace of South Africa&#8217;s fiscal consolidation will be slower than government forecasts as weaker than expected economic growth and a rising public sector wage bill act as fiscal headwinds, Moody&#8217;s Investors Service said a report today. Despite the slower pace of fiscal consolidation, medium-term deficit targets remain within reach and, if met, will support a stabilization of debt levels and reinforce Moody&#8217;s assessment of the sovereign&#8217;s fiscal and institutional strengths.
The report, &#8220;Government of South Africa: Fiscal slippages likely this year, but medium-term targets remain within reach&#8221;, is now available on www.moodys.com. Moody&#8217;s subscribers can access this report via the link at the end of this press release. The research is an update to the markets and does not constitute a rating action.
&#8220;We expect a slower pace fiscal consolidation than the Government of South Africa is forecasting,&#8221; said Lucie Villa, a Moody&#8217;s Vice President &#8212; Senior Credit Officer and co-author of the report. &#8220;Growth this year is expected to be lower than the government&#8217;s own estimates, weighing on tax revenues, while the public sector wage agreement in June also brings extra, unbudgeted costs.&#8221;
Moody&#8217;s expects a fiscal deficit of around 4.0% of GDP in 2018-19, implying a 0.4 percentage point of GDP shortfall from government targets. However, Moody&#8217;s expects the government to hit its 3.5% fiscal deficit target by 2020-21, with debt likely to stabilize at around 56% of GDP.
Moody&#8217;s expects that near-term fiscal adjustments will be made on the spending side based on the government&#8217;s record of operating within spending ceilings and undershooting revenue targets.
Improved tax collection led by the South African Revenue Service will allow revenue to take more prominence in the longer term fiscal consolidation path.
Rising interest costs in the context of investors taking a more risk averse stance towards emerging markets are a main risk to Moody&#8217;s fiscal forecasts, together with potential support to state-owned-enterprises.

South African rand dives as Moody’s warns on fiscal deficit, what you need to know…

CAPE TOWN (Reuters) &#8211; South Africa’s economic growth this year will be “much lower” than initial expectations, the central bank said in a presentation to parliament on Wednesday, calling any recovery “weak and choppy”.
The South African Reserve Bank added that fixed investment was not expected to pick up meaningfully this year, while inflation risks remained on the upside.
Reporting by Wendell Roelf; Writing by Alexander Winning; Editing by Joe Brock

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South African rand firms against US dollar ahead of country’s credit review

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South African rand

South African rand opens stronger after positive data

This is how war and revolt have done worse to the mines than COVID-19.

South African economy enters recession, what you need to know

Unexpected bounce in Chinese factory activity lifts South African rand ahead of Moody’s review

South Africa’s rand takes a tumble as Eskom plans nationwide power cuts

South Africa’s rand steady following signs of progress in U.S. – China trade talks

South Africa’s rand strengthens, reignited by upbeat remarks from U.S. Federal reserve chairman

South Africa’s rand flat as investors weigh heightened local, global risks, what you need to know

South African rand falls as country’s GDP declines in Q1

South Africa’s rand gains as U.S. political instability weighs on dollar

Why U.S midterms are putting pressure on South African rand ahead of elections

South African rand and government bonds strengthen, here’s why…

How is the South African rand performing ahead of finmin Mboweni’s mini budget speech?

South African rand firms against US dollar ahead of country’s credit review

South African rand firmer as Trump comments hurt dollar, what you need to know…

South African rand dives as Moody’s warns on fiscal deficit, what you need to know…

Central bank expects South Africa’s 2018 growth to be “much lower” than initial forecasts, here’s why

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