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Rand manipulators taken to ConCourt

The Constitutional Court will hear the Competition Commission's bid to overturn a ruling that cleared major banks of wrongdoing in a decade-long rand manipulation case. The proceedings are scheduled from Tuesday, 19 August, to Friday, 22 A…

Published: 19 Aug 2025 at 11:04hrs | 527 | by Staff reporter

Rand crashes past R19 to the dollar under Ramaphosa's watch

The South African rand continued its steep decline on Friday, 4 May, crashing past the R19 mark against the U.S. dollar amid heightened political uncertainty and growing diplomatic tensions with the United States. By mid-morning, the curre…

Published: 05 Apr 2025 at 16:40hrs | 9546 | by Staff reporter

Rand manipulators must be held accountable by Parliament

African Transformation Movement (ATM) leader Vuyo Zungula has called for those responsible for the rand manipulation to face the wrath of the law.It is alleged that more than 28 banks conspired to fix the value of the South African rand mo…

Published: 28 Aug 2024 at 14:33hrs | 524 | by Staff reporter

South African Rand takes a hit

The rand and a number of South African stocks took a hit on Monday as investors moved away from purchasing riskier assets, and it became evident that the US may enter a recession.The rand was trading at around R18.45 against the dollar on …

Published: 06 Aug 2024 at 09:12hrs | 1349 | by Staff reporter

Cyril Ramaphosa won't act on rand-fixing banks

President Cyril Ramaphosa will not act against the banks over rand fixing, according to Unisa Professor Boitumelo Senokoane.Senokoane, who joins the popular narrative that the president's strong links with big corporate and monopoly capita…

Published: 27 Nov 2023 at 16:35hrs | 18 | by Sifiso Mahlangu

South African rand hits record low in more market turbulence

The South African rand hit an all-time low on Friday before paring losses after a minister denied the country's arms control committee had approved an arms shipment to Russia, on another turbulent day for South African markets.Early on Fri…

Published: 13 May 2023 at 18:41hrs | 6 | by Staff reporter

EFF shutdown knocks the rand

The JSE was lifted by rand hedges and precious metals miners on Monday, amid global jitters over recent banking crises abroad, with the rand showing some pressure. This was as the EFF pressed ahead with its planned shutdown, holding a cent…

Published: 20 Mar 2023 at 14:25hrs | 4450 | by Staff reporter

Delta loses multimillion rand appeal

THE Supreme Court has confirmed as legitimate, a multi-million dollar agreement in which a South African conglomerate, Blakey Plastics Investments, signed a contract to supply plastic products to Delta Beverages Holdings Pvt Ltd for a peri…

Published: 31 May 2022 at 06:26hrs | 15 | by Staff reporter

South African Rand trades near 2021 highs after US inflation data

The South African Rand continues to be one of the most-watched emerging markets currencies by retail FX CFD traders, as the new COVID-19 cases seem to have plateaued at low levels and economic prospects have improved.If several months ago …

Published: 22 Apr 2021 at 06:10hrs | 243 | by Staff writer

Can the South African Rand Hold its Position Against the Greenback?

The South African rand remains one of the poster boys for emerging currencies across the globe, and like many of its contemporaries it has experienced a highly turbulent 2020.For example, the rand was one of numerous emerging currencies to…

Published: 22 Dec 2020 at 17:22hrs | 216 | by Staff writer

Zimbabwe to dump rand, US dollar

Zimbabwean will do away with the multiple currency regime - which includes the rand, US Dollar and other units - currently accepted as legal tender alongside the RTGS$ consisting of bond notes and electronic balances, President Emerson Mna…

Published: 07 Jun 2019 at 19:50hrs | 2946 | by Staff reporter

Mthuli Ncube speaks about adopting the rand by Zimbabwe

Zimbabwean finance minister Mthuli Ncube said the possibility of his country either adopting the SA rand as its main currency of trade - alongside its local unit, the RTGS dollar - or joining the rand monetary union was "not under consider…

Published: 12 Mar 2019 at 17:01hrs | 8 | by TimesLive

Zimbabwe 'shadow minister of finance' wants the country to adopt SA rand as currency

Zimbabwe should adopt South Africa's rand as its currency, one of a series of fundamental reforms needed to restore economic stability in the country, former Finance Minister Tendai Biti said.His call is an endorsement of government effort…

Published: 08 Feb 2019 at 20:54hrs | 4 | by Bloomberg

Mthuli Ncube's Rand option dilemma as currency crisis worsens

FINANCE minister Mthuli Ncube, who has publicly said joining South Africa's Multilateral Monetary Area could be a solution to Zimbabwe's currency crisis, is agonising over currency reforms, as it dawns on him that his preferred choice is a…

Published: 13 Dec 2018 at 20:01hrs | 12 | by Staff reporter

Adopt the Rand to stabilise the economy

The lifting of SI 122 made this writer to revisit a debate that made headlines in the post- election period in Zimbabwe. This was premised on whether Zimbabwe should join the Rand monetary community or not, or just to declare the rand as t…

Published: 03 Nov 2018 at 13:06hrs | 6081 | by Brightface Mutema

'Rand answer to Zimbabwe export competitiveness'

ZIMBABWE needs to adopt a soft currency like the South African rand as reference exchange money to become competitive and attract the much-needed foreign direct investment, economics researcher and businessman, Mr Dumisani Sibanda has said…

Published: 08 Oct 2018 at 06:16hrs | 9 | by Staff reporter

Zuma is the first president in SA to directly assault white privilege

Dear editor,Zuma is the first president in SA to directly assault white privilege. That is hella impressive. Some of y'all don't understand what's really happening, you just re-iterating what you are told in the headlines without criticall…

Published: 03 Apr 2017 at 08:32hrs | 14 | by social media

Manipulation of the rand is a threat to South Africa constitutional democracy

The screaming headlines were predictable: "Rand plunges on Presidentâ€™s action", "Rand plummets on recall", "Reckless' Zuma blasted", "Reshuffle speculated after Gordhanâ€™s unexpected recall", "Zuma-Gordhan rift hits the Rand", "Zumaâ€™s…

Published: 29 Mar 2017 at 09:58hrs | 2235 | by Faith Muthambi is minister of communications.

'It's too late for Zimbabwe to adopt rand,' says Biti

Ex-Finance minister Tendai Biti has said it is too late for Zimbabwe to adopt the South African rand as a dominating currency.Writing on his Twitter account, the opposition People's Democratic Party (PDP) leader said: "Too late to adopt ra…

Published: 29 Mar 2017 at 07:18hrs | 7377 | by Staff reporter

Can the South African Rand rescue Zimbabwe's economy?

TENDAI Biti sits in his office in a leafy Harare suburb, contemplating another collapse of the Zimbabwean economy.Thanks to a chronic shortage of United States dollars, the country is running out of cash. There are long queues outside ever…

Published: 24 Nov 2016 at 08:22hrs | 19 | by Simon Allison

Prophet TB Joshua's prophecy on the South African Rand

The rand strengthened the most in three months, leading global currency gains after data showed South Africa's economy expanded more than forecast in the second quarter while the trade balance swung to a surplus for the first time in more …

Published: 07 Sep 2016 at 10:29hrs | 5776 | by Marelise Van Der Merwe

Veteran Zimbabwean industrialist calls for rand adoption

Veteran industrialist Anthony Mandiwanza says Zimbabwe must adopt the South African rand as its official currency to help ease the current cash crisis and improve the manufacturing sector's competitiveness.This comes as the country, which …

Published: 03 Jul 2016 at 19:35hrs | 3151 | by Staff reporter

Govt sets multi currency deadline

Government has set June 30 as the deadline by which State institutions, parastatals and local authorities should have embraced multi-currency arrangements in payment transactions to promote financial sector stability. The move is part of a…

Published: 15 Jun 2016 at 06:40hrs | 4654 | by Staff reporter

'Let's adopt the rand'

BANKERS and industry have recommended the adoption of the South African rand as the major transacting currency to reduce concentration of risk associated with heavy reliance on the United States dollar currently accounting for 95 percent o…

Published: 07 Jun 2016 at 06:32hrs | 3563 | by Business Reporters

The Rand and the US Fed Interest Hike

South Africa has just come out of one of the most turbulent times since the dawn of democracy. The firing of Nhlanhla Nene (Finance Minister) and his replacement by the little known David van Rooyen has rallied South Africans leading …

Published: 08 Jan 2016 at 21:06hrs | 2897 | by Vusumuzi Moyo

Depreciation of the rand: Impact on Zimbabwe business

PURSUANT to the abolition of the dual exchange rate system, that is unification of the financial and the commercial rand) on March 10 1995 the unified rand was stable at around R3,60 to the US dollar for a period of up to one year from the…

Published: 02 Sep 2015 at 08:19hrs | 9 | by Colls Ndlovu

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Boiler maker killed

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