Dollar strengthens on elevated US bond yields, tariff talks
The dollar index was last up 0. 5% at 109. 24, not far from the two-year peak of 109. 58 it hit last week.
Rand, JSE surge on signs of moderating inflation in US
Economists are anticipating a 25 basis point interest rate cut in South Africa next month, with another potential cut in November as the inflation rate eased to a six-month low of 5. 1% in June, though it remains above the SA Reserve Bank’s target of 4. 5%.
Future of digital currency in SA: Will cash finally meet its match?
The proportion of cash versus digital currency is shrinking slowly but, nonetheless, surely.
First investment product provider to receive FSCA approval for crypto licence
The Financial Sector Conduct Authority has approved Jaltech as one of the few investment product providers to receive a crypto asset service provider license.
Stocks on the JSE began the week on a weaker footing, rand continues to slide
The JSE All Share index fell more than 1% to below 73 400 points yesterday, mainly pressured by resource-linked stocks.
How digital wallets grew to own 20% of South Africa’s online payments market
From the use of grain and salt as currency all the way to paper money, the payment landscape has been steadily and constantly evolving.
Rand fails to hold onto gains against bullish dollar after prudent Budget
The domestic currency had strengthened to R18. 77 to the dollar on the better-than-expected Budget, but then moved closer to R19. 00/$1 by 1pm following the release of the US Federal Open Market Committee (FOMC) minutes on the back of strengthening the dollar as interest rate cuts were not imminent.
Budget 2024: Treasury does not anticipate further Islamic bond issuance
Treasury had previously issued a $500 million Sukuk bond in 2014, when it became the first African nation to issue a sovereign sharia-compliant bond.
Investors drive rand and share values down on government finance concerns
Concerns about deteriorating fiscal metrics in South Africa drove the markets to the red yesterday, with stocks on the JSE and the rand beginning the week trading lower.