Watch news in a minute for a summary of South African Rand extended its gains and soft data dents dollar Story.

Zimbabwe’s Reserve Bank has introduced gold-backed digital tokens ahead the summer elections in an attempt to prop up its failing currency. Image via Pixabay

Nigeria has experienced a surge in the use of digital financial services due to a botched banknote changeover and subsequent currency crisis.

The South African rand is taking an absolute hammering in markets as a combination of global and local and issues weigh the currency down.

The ANC may have lost a few voters from 2014, but they are heading for a majority in Parliament and it’s been positive news for the value of the Rand.

Analysts warn that if the government gains executive control of monetary policy, the impact on the economy could be disastrous.

Looks like Finance Minister Nhlanhla Nene is on his way out. Unfortunately, the rand is set to take a big knock as a result.

On Thursday morning, one British pound was worth R20 – the last time South Africa’s currency dropped this low to the pound was back in late June 2016.

Here’s some reasoning behind the rand’s big slip.

After announcing the constitution would be amended to accommodate land expropriation, the rand lost significant ground against the American currency.

The rand has strengthened against all major currencies since Cyril Ramaphosa was elected as president of the ANC in December last year. It has grown even stronger since he took over the country.

Recycled currency notes of the Indian rupee will find their way to South Africa to be used as campaign material for next year’s election.

It’s the financial revolution of our lifetime. Here’s what it’s all about…

All sorts of madness.

The rand is continuing its strong showing after breaking through a significant level of R13.30/$ on Wednesday on the back of a bigger risk appetite for emerging market currencies and a strengthening of the euro.

Good news.

Time to get your holiday dollars.

The rand is unlikely to weaken to historic lows despite charges being brought against Minister of Finance Pravin Gordhan, says economist Dawie Roodt.

South Africa’s currency faces unstable times in the coming weeks and months.

The dodgy rand means that consumers should expect a pretty hefty price increase in their DSTV subscription come April.

It is estimated that there are 156 million phishing emails sent each day. Of these, only 16 million make it through spam filters and a further 8 million are opened.

Last week Tuesday, Overberg Asset Management’s weekly overview of the South African market landscape named the country as one of the most threatened emerging markets. South Africa, Brazil and Turkey were deemed the “threatened three” due to displaying the weakest currency fundamentals.

The Rand strengthened against the Dollar early on Friday as the South African Reserve Bank signalled a rate hike in the coming months.

Economists are surprised by rate hike as South Africa’s economy struggles to recover

The South African Rand has broken barriers unseen in recent years as it reached R18.50 to the British Pound last week. While the currency has taken a significant beating since May last year, when the US Federal Reserve first announced plans to taper its quantitative easing programme, last week’s woes can be attributed to renewed […]