The South African rand was the best performing currency in the world in 2017 right up to the point when President Jacob Zuma recalled then Finance Minister Pravin Gordhan from an investor roadshow in London.
A Cabinet reshuffle and ratings downgrade or two later and the rand is the world’s worst performing currency in the world.
How much value has the rand lost?
The Money Show’s Bruce Whitfield interviewed Rand Merchant Bank Currency Strategist John Cairns.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
In the past two weeks foreign investors have been buying up government bonds at record levels. This is the same for other emerging markets. A rising tide lifts even a half-submerged boat.— John Cairns, Rand Merchant Bank
This has happened at a very favourable time.— John Cairns, Rand Merchant Bank
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby THE NEWSROOM
It’s hard, but not impossible. Arabile Gumede interviews Argon Asset Management Economic Strategist Dr Thabi Leoka.
S&P has downgraded South African banks. Banking Association of SA’s Cas Coovadia discusses the development on The Money Show.
Did you know? Currencies and markets usually strengthen in the 12 months after a downgrade.
Anxious The Money Show listeners are asking about the effect of the ratings downgrade their finances.
Arabile Gumede (on The Money Show) interviews ZAR-X CEO Etienne Nel.
Arabile Gumede interviews KPMG Senior Economist Christie Viljoen.
Sunday Times journo Thanduxolo Jika who broke the front page story about the Gupta family emails vouches for their authenticity.
Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.
The EFF lawyer stole the show during the state capture report court battle.
Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.
Bruce Whitfield interviews the razor-sharp tongued Vestact MD Paul Theron about his money hopes, fears, successes, failures, etc.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...