Standard Bank deputy chair steps down

2020-02-24 19:05

Standard Bank non-executive director and deputy board chairperson Dr Hao Hu has stepped down from the board.

How SA’s stepping up as a forex hub and what that means for investors

2019-12-18 10:12

With an average turnover of $6.6 trillion per day in April 2019, the forex market is the largest and most liquid financial market in the world. Read more on how SA is stepping up as a forex hub.

We cannot fear change - Zim's Mnangagwa on currency

2019-06-25 21:10

In a statement released on Tuesday, Zimbabwe President Emmerson Mnangagwa said it had always been clear that for the country's economy to take off, "we need our own currency".

Commission ordered to revise its forex price-fixing case against 23 banks

2019-06-12 13:48

The matter dates back to February 2017, when the commission referred a forex collusion case initially involving 17 banks to the tribunal for adjudication.

Whats in a name? All you need to know about Zim's new currency

2019-03-15 19:46

In February, Zimbabwe introduced a new currency called the RTGS, or real-time gross settlement dollar, in the process abandoning its long held 1:1 parity between the US dollar and its local transactional instrument - the bond note.

Foreign investors can finally take money out of Zim, but at a huge discount

2019-03-04 20:47

Foreign investors on the Zimbabwe Stock Exchange are likely to take a huge foreign exchange loss on their investments, but at least they can now have their money back following a new directive by the Reserve Bank of Zimbabwe.

Huge Zim fuel price hike, foreigners to pay in forex

2019-01-13 10:57

Zimbabwe has hiked fuel prices by approximately 150% with effect from midnight on Sunday as the government battles with crippling shortages.

MTN settles with Nigerian central bank on $8.1bn dispute

2018-12-27 11:59

MTN has reached a settlement with the Central Bank of Nigeria on an $8.1bn dispute relating to funds repatriated between 2007 and 2015.

Rand likely to remain volatile, says deputy SARB governor

2018-11-29 13:41

It is likely that the rand, along with other emerging market currencies, will remain volatile, says deputy governor of the SA Reserve Bank Daniel Mminele.

This is why Turkey is in meltdown – and why it is dragging the rand down with it

2018-08-13 14:12

Turkey has grown at breakneck pace and amassed debt in the process. Now, 8,000km away, South Africa is one of the countries paying the price.


Rand trading has increased by 182% - most of it is outside South Africa

2020-02-03 12:53

While local ZAR trading accounted for $11.66 bn in April 19 as per South African Reserve Bank making SA, the second largest trader of Rand (USD) after United Kingdom ($44.5 bn) and just ahead of United States.

More South Africans exploring moving money offshore - tax expert

2019-08-04 08:40

An increasing number of South Africans have started to research their options on how to move money offshore, says a tax expert.

Zimbabwe pension payouts delayed due to forex shortage

2019-06-14 09:05

The provider of a common payment platform used by banks to pay out pensions is demanding to be paid in foreign currency.

Forex collusion case back in the spotlight at Competition Tribunal

2019-06-12 05:00

The matter dates back to 2017 when the Competition Commission referred a collusion case involving 17 banks to the Tribunal. Three domestic banks – Absa, Standard Bank and Investec were among those named.

Zimbabwe miners to pay 80% wage increase

2019-03-14 20:18

Zimbabwe mining companies – which include units of Anglo Platinum, Impala Platinum and Caledonia Mining – are to award an 80% wage increase to mine workers.

Forex cartel case: Standard Chartered pleads guilty to manipulating rand, other currencies

2019-02-05 17:18

British multinational banking and financial services company, Standard Chartered, has pleaded guilty to manipulating currencies, including the rand, between 2007 and 2013.

More distressed Zim companies ring alarm bells

2019-01-11 20:02

One of Zimbabwe's biggest grocery wholesaler N Richards Group says it is losing up to 15% of turnover per day spent without accessing fuel for distribution.

Beware these fiendish credit card tricks hidden in the small print

2018-12-03 15:28

Credit card skimmers are a risk, but the fine print in your credit card contract hides all kinds of traps for the unwary user.

Predicting rand like guessing Cape Town's rainfall next winter - expert

2018-08-24 16:43

We really are in a perfect storm, with so many variables, including US President Donald Trump's tweet, affecting the rand right now, says forex expert Tim Powell.


2018-06-21 20:00

The rand lost almost 1% against the US dollar after South Africa's current account deficit came in worse than expected and a lot worse that the previous quarter's print.

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