TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      Dark weekend lies ahead thanks to you know who

      20 May 2022

      CSIR develops app to help kids learn to read

      20 May 2022

      Prosus to sell Russia’s Avito

      20 May 2022

      Shock as Mustek CEO David Kan dies

      19 May 2022

      Sabotage at Eskom’s Tutuka plant

      19 May 2022
    • World

      Chip giant ASML places big bets on a tiny future

      20 May 2022

      Musk moves to soothe investor fears over Tesla

      20 May 2022

      Apple is almost ready to show off its mixed-reality headset

      20 May 2022

      TikTok plans big push into gaming

      19 May 2022

      Musk says he will vote Republican, calls ESG a ‘scam’

      19 May 2022
    • In-depth

      Elon Musk is becoming like Henry Ford – and that’s not a good thing

      17 May 2022

      Stablecoins wend wobbly way into the unknown

      17 May 2022

      The standard model of particle physics may be broken

      11 May 2022

      Meet Jared Birchall, Elon Musk’s personal ‘fixer’

      6 May 2022

      Twitter takeover was brash and fast, with Musk calling the shots

      26 April 2022
    • Podcasts

      Dean Broadley on why product design at Yoco is an evolving art

      18 May 2022

      Everything PC S01E02 – ‘AMD: Ryzen from the dead – part 2’

      17 May 2022

      Everything PC S01E01 – ‘AMD: Ryzen from the dead – part 1’

      10 May 2022

      Llew Claasen on how exchange controls are harming SA tech start-ups

      2 May 2022

      The inside scoop on OVEX’s big expansion plans

      20 April 2022
    • Opinion

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022

      How AI is being deployed in the fight against cybercriminals

      8 April 2022

      Cash is still king … but not for much longer

      31 March 2022

      Icasa on the role of TV white spaces and dynamic spectrum access

      31 March 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»Sections»Investment»Rand strengthens after Ramaphosa eases lockdown

    Rand strengthens after Ramaphosa eases lockdown

    Investment By Agency Staff17 August 2020
    Facebook Twitter LinkedIn WhatsApp Telegram Email
    Image: Steve Buissinne

    The rand began the week stronger on Monday after President Cyril Ramaphosa announced a sweeping removal of lockdown restrictions over the weekend.

    Ramaphosa said that from midnight on Monday (more accurately, Tuesday morning) a ban on alcohol and tobacco sales would be lifted, interprovincial travel would be allowed and restaurants and taverns could return to normal business subject to hygiene protocols.

    By 8.31am, the rand was trading at R17.34/US$, roughly 0.3% firmer than its previous close. Dollar weakness on global markets also supported the rand. Government bonds were little changed in early trade, with the yield on the 2030 bond at 9.16%.

    The economy has been hit hard by one of the world’s strictest lockdowns, imposed in late March to curb the spread of the coronavirus, but Ramaphosa said the indications were that the country had reached the peak of Covid-19 infections.

    Official forecasts are for GDP to contract by at least 7% this year, with South Africa having recorded the fifth-highest number of Covid-19 infections worldwide.  — Reported by Alexander Winning, (c) 2020 Reuters

    Cyril Ramaphosa
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleNow Facebook takes aim at Apple’s 30% App Store cut
    Next Article Online car sales in South Africa: What’s possible, and what’s not

    Related Posts

    Dark weekend lies ahead thanks to you know who

    20 May 2022

    CSIR develops app to help kids learn to read

    20 May 2022

    Fast-rising fintech Bankingly closes $11m investment round

    20 May 2022
    Add A Comment

    Comments are closed.

    Promoted

    Fast-rising fintech Bankingly closes $11m investment round

    20 May 2022

    Creating an effective employer value proposition for the new era of work

    20 May 2022

    Why fibre is the new utility – and what it means for South Africa

    19 May 2022
    Opinion

    A proposed solution to crypto’s stablecoin problem

    19 May 2022

    From spectrum to roads, why fixing SA’s problems is an uphill battle

    19 April 2022

    How AI is being deployed in the fight against cybercriminals

    8 April 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.