President Robert Mugabe has hinted that he would prefer rand as currency
President Robert Mugabe has hinted that he would prefer the adoption of the rand in Zimbabwe despite the reluctance to adopt the currency from his government. Mugabe, who turned 93 on Tuesday, said in a televised interview to mark his birthday that he had asked Finance Minister Patrick Chinamasa and central bank governor John Mangudya […]
South Africa Rand Rallies for the first time since 6 January
The rand has dipped below R16 to the US dollar for the first time since 6 January on several drivers, including an aggressive interest rate hike on Thursday and surprisingly positive trade data on Friday. “The definite drivers for the ZAR strength against the US dollar were the rate hike, month end sellers, nervous dollar […]
South African Rand Banned In Zimbabwe
The South African rand is being elbowed out of the market on the backdrop of its depreciation against the United States dollar. The rand is part of the multicurrency regime embraced by government in 2009 to stem hyperinflation. Other currencies in the basket include the Botswana pula, British pound and United States dollar. Until the […]
