Investec Chief Economist Annabel Bishop says the rand has made some serious gains - and could extend them in the coming months.
The rand has seen significantly strengthened over the last month, and it could extend these gains for the rest of the year.
Annabel Bishop, Investec’s Chief Economist, said that foreign investors have bought R11.3 billion of South African bonds in July – R25.8 billion since the start of June – which helped strengthen amid the dollar softening. The IMF warned that China’s recovery is losing steam, partly due to unresolved real estate issues, with negative cross-border spillover.
“After a long period of risk-off , the markets are seeking good news, even marginal expectations of improvements, and this is That said, more positively, Minister for Electricity Kgosientsho Ramokgopa recently announced a “one-stop shop” for power procurement that will speed up processes for independent power producers .
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Investec Property Fund wants to name itself after a stone | BusinessInvestec Property Fund, which oversees R35 billion in assets, is asking shareholders to approve a name change to Burstone Group, with the name of a stone used to change grain into flour. | News24_Business
Read more »
ECONOMIC WEEK AHEAD: Private sector credit and trade balance kick off the weekAbsa economist Miyelani Maluleke warns that a further slowdown in credit extension seems likely
Read more »
Cell C appoints marketing chiefMelanie Forbes will be Cell C’s new chief marketing officer.
Read more »
Cell C appoints new chief marketing officerMelanie Forbes will drive the telecoms company's marketing efforts and brand transformation, says the telco.
Read more »
Kremlin expresses concern over Niger after Wagner chief celebrates coupThe Kremlin expressed concern on Monday over the situation in Niger, whose president was ousted last week in a coup that was condemned by many countries but welcomed by the head of Russia's mercenary Wagner group, which has extensive interests in Africa.
Read more »
Why ANC barred Yengeni from standing for Veterans' League top job | City PressThe ANC's Ex-chief whip could not be a voting delegate because he did not have a mandate from branches. | City_Press
Read more »