Tag: rand
What’s behind the rand’s volatile movements?
Emerging market currencies are extremely volatile, as world markets struggle with growth and recovery. The Rand has been at a tipping point amid Covid-19, driven by global sentiment and now most recently domestic issues. Joining CNBC Africa to unpack risk appetite for emerging markets currencies is Charles Robertson, Global Chief Economist at Renaissance Capital.
South Africa’s rand falls as virus fears hit risk appetite
JOHANNESBURG (Reuters) - South Africa’s rand fell to its weakest in more than three weeks on Monday, as fears about the economic fallout from rising COVID-19 cases dented investors’ appetite...
South African rand retreats as virus surge weighs on sentiment
JOHANNESBURG (Reuters) - South Africa’s rand weakened early on Monday as a global surge in COVID-19 infections put the brakes on risk-taking.
At 0700 GMT the rand...
S. Africa’s rand firms as growth, vaccine hopes drive mood for risk
JOHANNESBURG (Reuters) - South Africa’s rand firmed in early trade on Wednesday ahead of consumer inflation data and as hopes of economic recovery increased global risk appetite.At 0645 GMT the...
Binance CEO on COVID-19 impact & trading crypto currency in Africa
Binance, a blockchain ecosystem, has recently allowed South African bank account holders to directly trade cryptocurrencies using the rand value on its platform and is allowing other African countries to also explore and advance the use of technology in the world on cryptocurrency. The Founder and CEO of Binance, Changpeng Zhao joins CNBC Africa for more.
South African rand plummets after surprise rate cut, market uncertainty
The South African rand fell on Wednesday after a surprise repo rate cut by the South African Reserve Bank, while broader emerging market risk assets retreated amid continued focus on the coronavirus outbreak.
The harsh realities of being an entrepreneur. He first had to deal with the dot-com crash, now his coffee business is being hit by...
Entrepreneur Jonathan Robinson saw his dotcom dream disappear overnight, he awoke from the nightmare to smell the coffee only to suffer COVID-19.
Rand hits record low, goes over 19 to dollar as Fitch downgrades SA further into junk status
Last Friday Moody’s, the last rating agency to rate South Africa investment grade, cut South Africa’s sovereign credit rating to junk in line with economists’ forecast. Today Fitch further downgraded the country sending the rand plunging over 19 rand to the dollar. Below it gives its reasons...
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