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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: 17:34

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 (2nd Oct 2009): MTN deal falls through and sends Rand into abyss

News-Archive


MTN deal falls through and sends Rand into abyss - 2nd Oct 2009

President Jacob Ziuma's efforts to show South Africa's readiness to do embrace international business were thwarted yesterday, when the negotiations between the local cell phone operator MTN and the Indian telephone company Bhart Airtel went into a stalemate.

After the four months long negotiations collapsed, the intended biggest corporate transaction in South African history worth 180bn Rand (14bn GBP) will not come into fruition.

The news came at a bad time and sent the South African Rand spiralling into an abyss by loosing more than 5% against major currencies.
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