It’s the financial revolution of our lifetime. Here’s what it’s all about…
Amidst an economic recession, high unemployment, political uncertainty and credit rating downgrades; the Rand to continued its recent counterintuitive behaviour by producing surprising strength early last week.
On Thursday, we celebrated the South African people ‘rising up’. The Department of Energy have also commemorated Freedom Day, by doing the same with the price of fuel.
ANC secretary general Gwede Mantashe on Monday neither confirmed nor denied that Zuma might be taking further steps against finance minister Pravin Gordhan.
Now there’s something that’s bound to turn a few frowns upside down.
The decreasing possibility of a ratings downgrade and improved investor confidence has helped the Rand continue its upward surge.
Some pretty clever folks believe we’re about to see a comeback as the Rand does the impossible… kick the downward trend and start clawing back territory.
Want to know why South Africa needs Gordhan and why experts are so concerned about the latest assault on the finance minister? Well, have a look.
In the wake of the United Kingdom’s historic vote to leave the European Union, the Rand took a heavier knock than when Zuma fired then finance minister Nhlanhla Nene.
Since South Africa’s first democratic elections in 1994 the strength of the South African rand started on a journey of steady decline. Initially it was uncertainty about the country’s new government that saw the rand weaken to an average R3.55 versus the dollar in 1994 (Historically the rand was worth US $ 1.40 from the […]