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
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.
Your financial future – even if you have to start over – could be brighter than it would’ve been without the pandemic.Read More
The Covid-19 pandemic's moving us towards a cashless society. Arabile Gumede interviews Ukheshe co-founder, Clayton Hayward.Read More
'Smaller businesses have largely been ignored'. Arabile Gumede interviews Retail Capital CEO Karl Westvig.Read More
Outa's Stefanie Fick urges the speedy investigation of allegations against the suspended COO of the National Lotteries Commission.Read More
There’ll be many opportunities for frontier investors in the coming years, says Absa's Somaya Joshua.Read More
The originator of the scheme is the man behind the 'Drive a new car for R699 a month' fiasco years back, warns Wendy Knowler.Read More
Level 1 rules helping but also hindering the wedding industry. Get cost-saving tips from Precious Thamaga (Precious the Planner).Read More
The sector is at a tipping point. Arabile Gumede interviews Philippa Rodseth from industry body, the Manufacturing Circle.Read More
Khabazela shares some of the videos that went viral on Twitter and Facebook.Read More
BMW releases an 'ode' to an iconic earlier model. The ad reflects local culture, says Sizakele Marutlulle (Marutlulle and Co).Read More