Rand went from world’s best in 2017 to its worst on Zuma’s reshuffle

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

Click here (then“like” the page) to follow Bruce on Facebook.

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.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


Recommended

by NEWSROOM AI
Read More
Here’s what it’ll take for South Africa to rise from junk status…

Here’s what it’ll take for South Africa to rise from junk status…

It’s hard, but not impossible. Arabile Gumede interviews Argon Asset Management Economic Strategist Dr Thabi Leoka.

Is your money in the bank safe? Banking Association on S&P's downgrade of banks…

S&P has downgraded South African banks. Banking Association of SA’s Cas Coovadia discusses the development on The Money Show.

Brexit… Trump… Cabinet reshuffle…  Face your fears! Here’s where to invest…

Brexit… Trump… Cabinet reshuffle… Face your fears! Here’s where to invest…

Did you know? Currencies and markets usually strengthen in the 12 months after a downgrade.

How SA’s reshuffle to ‘junk status’ will affect your pocket

How SA’s reshuffle to ‘junk status’ will affect your pocket

Anxious The Money Show listeners are asking about the effect of the ratings downgrade their finances.

What South Africa’s reshuffle to 'junk status' means for your pension fund

What South Africa’s reshuffle to 'junk status' means for your pension fund

Arabile Gumede (on The Money Show) interviews ZAR-X CEO Etienne Nel.

‘Treasury [the new team] doesn’t acknowledge that we have a problem’

‘Treasury [the new team] doesn’t acknowledge that we have a problem’

Arabile Gumede interviews KPMG Senior Economist Christie Viljoen.

Popular articles
[UPDATE] No fatalities in N1 north bus fire

[UPDATE] No fatalities in N1 north bus fire

Passengers and JMPD give details of what led to the fire on the bus.

[VIDEO] Real estate company surprises employees with R740,000 bonus each

[VIDEO] Real estate company surprises employees with R740,000 bonus each

Khabazela shares tweets and Facebook posts that have gone viral.

[VIDEO] Dad accidentally dunking baby in 20-inch snow goes viral

[VIDEO] Dad accidentally dunking baby in 20-inch snow goes viral

Khabazela shares tweets and Facebook videos that have gone viral.

[WATCH] Baby saved from falling off counter while mom shops for a gun goes viral

[WATCH] Baby saved from falling off counter while mom shops for a gun goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

'Centurion was built in a floodplain, that's the problem,' says environmentalist

'Centurion was built in a floodplain, that's the problem,' says environmentalist

Water and Environment specialist Professor Anthony Turton says Centurion Lake has always been a controversial development.

[WATCH] Woman sharing her most embarrassing moment at parking lot goes viral

[WATCH] Woman sharing her most embarrassing moment at parking lot goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Guy asking Siri to change name it calls him has social media in stitches

[WATCH] Guy asking Siri to change name it calls him has social media in stitches

Khabazela shares tweets and Facebook posts that have gone viral.

Did you know? SA exports electricity to seven countries in Southern Africa

Did you know? SA exports electricity to seven countries in Southern Africa

Senior Researcher at Africa Check Kate Wilkinson shares their latest from their fact-finding missions.