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  • Picture: pixabay.com

    Rand firms as South Africa announces COVID-19 rescue package

    Among the measures to fund the rescue package, Ramaphosa said South Africa had approached global financial institutions like the World Bank, International Monetary Fund, the BRICS New Development Bank and the African Development Bank, primarily to fund healthcare interventions.

  • South African rand.  Picture: Christa Eybers/EWN

    Rand steady, oil crash in focus

    The rand steadied against the dollar early on Tuesday, but traders expected the currency to remain under pressure as a plunge in US crude oil futures to below zero sapped risk appetite.

  • South African rand. Picture: Christa Eybers/EWN

    Rand opens weaker as growth fears hurt riskier assets

    The rand fell more than 4% versus the dollar last week, hurt by a surprise central bank interest rate cut and predictions that the domestic economy would suffer a severe contraction because of the COVID-19 pandemic.

  • Picture: EWN

    Rand stronger at end of torrid week

    But the currency was on course for losses of roughly 4% versus the US dollar this week, hurt by a surprise rate cut and predictions that the global coronavirus pandemic will cause a deep economic contraction.

  • Picture: EWN

    Rand falls as deep recession fears weigh

    The International Monetary Fund said on Wednesday sub-Saharan Africa’s gross domestic product was on track to shrink this year by 1.6% - its worst performance on record - because of the combined effects of the coronavirus and plummeting oil and commodities prices.

  • South African rand. Picture: Christa Eybers/EWN

    Rand firms as Chinese trade data lifts riskier currencies

    Analysts, however, expect the rand to remain volatile, with a grim outlook for South Africa’s economy after the country imposed some of the toughest restrictions on the continent to curb the spread of the new coronavirus.

  • Picture: EWN.

    Rand rallies as investors see value after deep fall

    The rand, after tumbling to an all-time low of 19.3450 following two credit rating downgrades in quick succession, has clawed back ground in the last few sessions in line with other emerging market currencies.

  • Picture: EWN

    Rand recovers after plunging to all-time low

    South Africa has imposed some of the toughest restrictions on the continent to try to contain the coronavirus outbreak, including deploying the army to support police during a 21-day lockdown that began on Friday.

  • South African rand.  Picture: Christa Eybers/EWN

    Rand crashes to all-time low after Moody's pulls the plug

    Moody’s downgrade will see South Africa kicked out of the benchmark World Government Bond Index (WGBI) of local-currency debt at the end of April, triggering up to $12 billion of forced selling, treasury and analysts estimate.

  • South African rand.  Picture: Christa Eybers/EWN

    Rand on the ropes as virus fears mount

    With South Africa reporting a sharp jump in confirmed coronavirus cases on Monday to 402, from less than 50 just over a week ago, sentiment towards the rand and other local assets is set to remain on the ropes.

  • Picture: pixabay.com

    Rand weakens as coronavirus worries weigh

    Since Monday’s sharp fall to just shy of R17.00, the rand has managed to claw back some ground, but ongoing uncertainty about the effectiveness of measures taken by central banks globally to limit the coronavirus has kept volatility elevated.

  • Picture: Supplied.

    Rand rebounds as global selloff slows

    The rand firmed on Tuesday, recovering most of its losses as emerging markets broadly recovered from heavy selling in the previous session triggered by a dive in oil prices and fears about the economic impact of the coronavirus.

  • South African rand.  Picture: Christa Eybers/EWN

    Rand weakens, Amplats leads stocks lower

    President Cyril Ramaphosa warned that the virus would hurt travel and tourism, and have a negative impact on South Africa’s already struggling economy, but urged citizens not to panic.

  • Pixabay.com

    Rand falls as economy slips into recession

    The recession is another setback for President Cyril Ramaphosa’s efforts to revive the economy and stave off a downgrade of the country’s sovereign debt to below investment grade by rating agency Moody’s.