The rand dropped to R18.23 per USD before rebounding to around R18.10 due to a technical correction and anticipation of President Cyril Ramaphosa’s cabinet appointments.
Throughout the week, the dollar strengthened after hours, but during the South African trading desk time, the rand gained strength and lowered the exchange rate.
The South African rand has exhibited some fluctuation and is currently valued at R18.85 against the US dollar.
The South African rand depreciated to a one-month low of R18.80 per dollar due to a stronger US dollar and ongoing political uncertainty.
The rand demonstrated notable resilience, but ongoing challenges and political uncertainties continue to pose risks.
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As the elections approach, the rand might struggle to make further gains as the market assesses what the election results mean for national coalition politics.
The South African rand gained strength recently due to a weaker US market and conservative policies of the South African Reserve Bank.
The South African rand fell sharply, driven by “risk-off” sentiment amid ongoing Middle East conflict and fears of escalation.
The South African rand increased significantly the past week. This was due to a weaker USD and a robust gold price.
Last week, the South African rand (ZAR) stayed stable, fluctuating between R23.75 and R23.95 against the British Pound. More in the following report.
The Rand’s strength was fueled by rising gold prices, a weaker US Dollar, and slight improvements in the South African economy.
There were plenty of familiar – and famous – faces spotted along the route of Sunday’s Cape Town Cycle Tour.
This week, the South African Rand sharply declined against major currencies due to negative market reactions following the national budget.
The Rand exhibited resilience by surpassing R19.05 against the US Dollar (USD) and exceeding R24 against the British Pound (GBP).
The South African Rand depreciated more against a majority of currencies, including those from both emerging and developed nations.
The South African Rand has fluctuated around 3% since last Tuesday, currently resting at R18.85 against the US Dollar.
The Rand ended December 2023 on a relatively positive note, concluding at R18.28 against the US Dollar and R23.29 against the British Pound.
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As a South African tax resident, SARS taxes your global assets, but as a non-resident, only South African-sourced assets are taxed.
The rand continues its woeful performance against almost all traded currencies and has continued to be a standout underperformer.
The rand has been the black sheep of the emerging-market currencies – plagued by load-shedding and troubles with state-owned enterprises.
It’s good news if you’re a South African looking to secure a golden visa. Here’s what you need to qualify and where you can go.
Tax-battered wealthy South Africans, hoping to protect their retirement income are retiring to Portugal for six months a year on the country’s Non-Habitual Residence (NHR) programme, with its attractive 10-year tax break.