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ZAR stabilises, but does not soar

The Rand started firmly on Monday but lost ground as the week continued, thanks to the continuing slide in commodity prices along with being an EM currency. The student protests have also weighed on investor sentiments in the past two weeks.

Rand wobbles after student pro

Rand wobbles after student protests

Last week was characterised by the student protests across the nation. The Rand was at a low against the dollar as the student protests over tuition fees put a negative spin on investor sentiment. The Rand fell by nearly 2% against the US dollar mid-week, which tied in with the protests occurring outside of Parliament.

Rand resumes slide to fresh lo
South Africans Abroad

Rand resumes slide to fresh lows

The South African Rand fell to historic lows against the Pound last week, hitting 21.45 on Thursday, the worst rate in over 10 years. Following hawkish statements from various Fed officials with regard to raising US interest rates this year, the Rand also reached record lows against the US Dollar.

Rand slips to a historical low
South Africans Abroad

Rand slips to a historical low against the Pound

The big talking point of the last week was the devaluation of the China’s currency. The Rand dropped to its lowest level (R12.7250) in 14 years to the Dollar on Tuesday and Wednesday. This decline, along with fellow emerging market units, followed China’s decision to devalue its currency to support a stuttering economy and boost exports. The USD strengthened on the back of this devaluation.

Rand falls to 14-year lows in

Rand falls to 14-year lows in emerging-market sell-off

Last week, the South African Rand took the brunt of a sell-off in commodity currencies triggered by concerns about a slowdown in China’s growth. The Rand dropped more than 1.5% to a low of 12.680 to the Dollar. On Friday, the Rand temporarily hit a 14-year low at its weakest point.

Rand to hold as Greece reaches

Rand to hold as Greece reaches new debt agreement

The GBP-ZAR rate dropped to 19.11 on Friday last week, but it could not keep its footing and closed at 19.32. The rate has since hovered around this point with no real changes expected, especially with all eyes on Greece and the Euro’s movements.

Struggling Rand steadies by we

Struggling Rand steadies by week end

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.

South African Rand reaches R18

South African Rand reaches R18.50 to the Pound

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 […]

Rand plummets to lowest level

Rand plummets to lowest level since 2009

South Africans’ penchant for importing more than they sell to the world, as well as bleak news from the United States, has been the cause of a dramatic dip in the value of the Rand. The national currency continued its headlong dive to the region of R10.53 to the US Dollar