The rand weakens by 4.3% against US dollar

Since the start of September, the rand is down by 4.3% against the US dollar. This is according to Economist at Nedbank, Isaac Matshego.

He says the pressure is continuing to mount for the emerging marking of the so-called fragile 5 which includes Brazil, India, Indonesia, Turkey and South Africa.

Domestically we are continuing to see pressures on the rand and we are very worried about the fiscal numbers.

Isaac Matshego, Economist at Nedbank

Matshego says as the country awaits the finance minister's midterm budget policy statement that's coming up on the October 25. However, they are already seeing that the revenue numbers are running behind schedule.

The weaker rand simply means that we could see inflation coming under some pressure and we could see the Reserve Bank holding on on further interest rates cuts.

Isaac Matshego, Economist at Nedbank

To hear the rest of the interview, listen below:


This article first appeared on CapeTalk : The rand weakens by 4.3% against US dollar


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
How crafty Joburgers found a way to make use of mine dumps

How crafty Joburgers found a way to make use of mine dumps

Thanks to some smart creative people mine dumps are being used to hone snowboarding skills - with sandboarding.

ConsumerTalk: Loyalty is expensive

ConsumerTalk: Loyalty is expensive

Wendy Knowler explains 3 ways you could be overpaying this month on things like insurance premiums.

Egypt ousts SA as Africa’s top investment destination

Egypt ousts SA as Africa’s top investment destination

The Money Show’s Bruce Whitfield interviews Celeste Fauconnier, co-author of RMB’s “Where to Invest in Africa” report.

Poverty's tight grip on South Africa

Poverty's tight grip on South Africa

Eusebius McKaiser with the help of Thabi Leoka as well as Anele Nzimande had a robust discussion on poverty in South Africa.

Ipid calls for crime intelligence slush fund boss suspension amid fraud claims

Ipid calls for crime intelligence slush fund boss suspension amid fraud claims

Major-General Obed Nemutanzhelahe is facing a half-a-million-rand fraud investigation.

How the oil price - in rand – has gone up and down over the past 20 years

How the oil price - in rand – has gone up and down over the past 20 years

Fuel prices in South Africa are mainly a factor of the international price of oil and the rand/dollar exchange rate.

WATCH LIVE: Heat is on for Gordhan's mid term budget speech

WATCH LIVE: Heat is on for Gordhan's mid term budget speech

Finance Minister Pravin Gordhan will spell out South Africa's financial situation during the Medium-Term Budget Policy Statement.

Rand drops, Twitter conspiracies soar after Gordhan's summons

Rand drops, Twitter conspiracies soar after Gordhan's summons

The rand plummeted and there are growing fears of a downgrade after news that Pravin Gordhan has been summonsed. But there's more.

Popular articles
Robots are already replacing financial advisors right here in South Africa

Robots are already replacing financial advisors right here in South Africa

But can they be trusted? Are they independent? Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

Retirement: 8 biggest mistakes people typically make…

Retirement: 8 biggest mistakes people typically make…

The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Elon Musk, as you’d expect, hails from an exceptional family. Bruce Whitfield interviews his Capetonian father.