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News Highlight
19th Jan 2012

Interest Rate remains unchanged!

The South African Reserve Bank left its repo rate unchanged at 5.5% on Thursday as expected, with concerns about a slowing economy off-setting the pressures from inflation, which is likely to stay outside its target band for longer than previously expected.

At its first policy meeting of 2012, the bank raised its inflation forecast, saying it expected inflation to be outside its 3-6% target range throughout 2012, with the recent depreciation of the rand being the main ...[MORE]

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Exchange Rates

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Rates are compliment of the ECB and will be updated once a day on weekdays only.

Date & Weather

Date: 04.02.2012
Time: 17:46

Capetown:

Temp.: 29 °C / 84 °F
Wind: S / 14 kn
Sunrise: 05:43
Sunset: 20:15

Johannesburg:

Temp.: 19 °C / 66 °F
Wind: VRB / 3 kn
Sunrise: 05:19
Sunset: 19:22
IBN News (16th Oct 2008): Rand took a serious Knock

News-Archive


Rand took a serious Knock - 16th Oct 2008

Last night South Africa had a real taster of the consequences of the current international finance crisis. After major politicians confirmed the recession prognosis for Europe and the US and all major stock markets are in the red, most institutional investors decided to dump their equity in the Emerging Markets. South Africa's Rand market of thin liquidity felt the pressure immediately and the Rand dived to 14.37 to the Euro, 10.86 to the Dollar and to 18.29 to the Pound, the lowest exchange rates since August 2002. The morning trade saw a variety of smaller investors taking the opportunity to buy Rand not only to profit from its weakness but also from the high interest rates. This brought the Rand back to 13.40 to the Euro and just under 10.00 to the Dollar.
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