The plunging rand drove currency futures trading on South Africa’s exchange to a record this month amid bets for further depreciation. Trading rose to 40 billion rand ($3.9 billion) this month, the most ever, Warren Geers, the JSE Ltd. (JSE)’s general manager for bonds and financial derivatives, said in an e-mailed […]
Tag: Rand
South Africa Inflation Unchanged at 5.9% as Rand Weakens
South Africa’s inflation rate rose more than estimated in April as a decline in the value of the rand added to the cost of imports, reducing the chances of a cut in interest rates. Inflation was unchanged 5.9 percent from the previous month, Statistics South Africa said on its […]
South African central banker sounds warning on economy
South Africa’s economic outlook is deteriorating rapidly, with unrest in the mining sector and national transport strikes likely to lead to job losses, central bank governor Gill Marcus said on Wednesday. Speaking to economics students in Grahamstown in the Eastern Cape province, Marcus also warned that the country faced a […]
