UK inflation data and New Zealand rate hike remind investors that global economy still faces many challenges
Though highly skilled, SA farmers need access to support services to meet consumer demand for close-at-hand ethically farmed, organic produce
The Reserve Bank has to report as soon as possible on its investigation into any foreign exchange declarations made by the president arising from the stolen money
The governing party is discussing whether those criminally convicted of a serious crime should still have a home in the ANC
The social media and gaming giant is grappling with a downturn in China’s economy, amid a property slump and Covid-19 lockdowns
With price relief awaiting motorists in September, Outa is worried the fuel levy will be increased to offset the scrapping of e-tolls
The aim is to have 65% of the business’s electricity requirements at a manufacturing level across SA sourced from sustainable energy by 2030
Rail workers will stage nationwide strikes and bus and Underground staff will hold stoppages in London, among other disruptions
England Test captain says he hopes his team has retained their “venom” before the three-match series against SA
The fitment centre group has partnered with Disky for motorists to renew their vehicle licenses using WhatsApp
The rand remained under tremendous pressure on Monday morning, although it was well off the day’s worst levels after the Turkish central bank stepped in with measures to address the meltdown in the lira, which acted as a destabilising force across global markets.
Earlier in the Asian session, the rand plunged by the most against the dollar in nearly 10 years, raising the prospect of much higher inflation, which could force the Reserve Bank to increase interest rates.
Living up to its character as the most volatile currency, the rand plunged as much as 10% to cross R15/$ for the first time into two years. This marked the biggest one-day fall since October 2008, at the height of the global financial crisis.
Just more than two weeks ago, the rand changed hands to the dollar at R13.09 before reversing course on a combination of factors, including concerns about the land reform process.
Other emerging-market currencies were under pressure, too, amid heightened global risk aversion.
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