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Posts Tagged ‘money’
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August 17, 2018

THE RAND IN RECOVERY MODE!

The lira, the world’s worst performer this year, and South Africa’s rand led the advance as some investors say Turkey’s problems are unique and others look for buying opportunities across emerging markets, writes Bloomberg.

The rand was nearly 2.5% stronger in morning trade against the dollar on Tuesday, after sliding as much as 9.4% on Monday – the most since October 2008.

Bloomberg reported some analysts saying that there are few fundamental reasons for assets across emerging markets to fall because of the lira. Turkey’s problems stem from president Recep Tayyip Erdogan’s standoff with the US administration.

With average inflation rates at record lows and [...]

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June 27, 2018

TEACHER KEEPS HER WORD

Genevieve Via Cava dedicated her entire life to her students – and even though she passed away in 2011, she’s still managing to give back to them.

Shortly after the Dumont school teacher retired roughly 10 years ago, she told the district superintendent that she would one day give $1 million to her students. He laughed it off, thinking that it was a joke, until he received notice that she had bequeathed a small fortune to the school following her death.

A child of the Great Depression, Via Cava refused to indulge in small luxuries. According to NorthJersey.com, she even abstained from buying herself a hearing aid once she started to go deaf in her later [...]

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February 5, 2018

Rand’s rally takes the shine off a strong gold price for SA miners

For South African gold miners, it’s both the best and worst of times.

The metal started the year with a bang, rising 4% so far and trading near the highest since August 2016.

But an equally impressive rally in the rand means that SA-focused producers are likely to miss out on the party.

Because mining companies pay most of their expenses in local currency, a stronger rand squeezes profit margins and can render some operations unprofitable.

Many of SA’s gold mines date back to the 1950s and 1960s, and much of the easily accessible metal has been exhausted, while labour-intensive mining methods compound the effect of currency moves.

“With the [...]

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January 19, 2018

Here’s what R100 buys you around the world right now

The rand is currently enjoying one of its longest winning streaks since 2002, with the currency trading at R12.37 to the dollar on Monday, 8 January.

Notably it has been on the front foot since December, supported by investors’ hopes that the newly elected leader of the ruling ANC, Cyril Ramaphosa, would push through business-friendly policies.

However, a Reuters poll held on Friday (5 January) found that the run is likely to end soon, with technical indicators now suggesting the rand is overbought.

There are also doubts about how much Ramaphosa, a promised reformer, can do for South Africa’s ailing economy, with the polled strategists saying that the rand is [...]

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