29 Nov 2019 RAND FIRMS BUT REMAINS RANGE-BOUND
South Africa’s rand firmed against the dollar on Friday, but the currency was stuck in a range as investors sought clarity on whether a new US law backing Hong Kong protesters could derail trade negotiations between Washington and Beijing. The focus was on US-China trade developments after the United States backed anti-government protesters in Hong Kong, as well as domestic third-quarter gross domestic product numbers due on Tuesday. “Rand awaits GDP data and global developments,” said Bianca Botes, Peregrine Treasury Solutions Corporate Treasury Manager.
18 Nov 2019 RAND STRENGTHENS NEAR ANALYSTS’ FORECASTS
The rand’s firming to R14.69 a dollar on Monday was near analysts’ forecasts. Peregrine Treasury Solutions Corporate Treasury Manager Bianca Botes said the rand benefitted from the slight weakening of the greenback going into Saturday, to hold at around R14.71 a dollar over the weekend.
01 Nov 2019 EXCHANGE CONTROL RISKS WHEN MOVING FUNDS OFFSHORE
Many looking South Africans are actively looking to move funds offshore. However without observing the correct exchange control procedures, Peregrine Treasury Solutions Corporate Treasury Manager Bianca Botes warns that you or your business could quickly land in hot water with the South African Reserve Bank (SARB).
31 Oct 2019 CAN MBOWENI’S HONESTY WARM RATINGS AGENCIES SENTIMENT
The spectre of a ratings downgrade of South Africa to junk status by Moody’s Investors Services loomed even larger yesterday, after the markets were left uninspired by Finance Minister Tito Mboweni’s Medium-Term Budget Policy Statement (MTBPS). Mboweni’s candid portrait of the economy sent the rand hurtling against the dollar. It breached the key R15 to the dollar mark, sliding a whopping 39c to R15 by 5pm, compared to the same time on Tuesday.
24 Oct 2019 EXCHANGE CONTROL RISKS WHEN MOVING FUNDS OFFSHORE
Many South Africans are actively looking to move funds offshore, for reasons that range from travel and investing to importing or exporting new products and launching new businesses. But without observing the correct exchange control procedures, you or your business could quickly land in hot water with the South African Reserve Bank (SARB), warns Peregrine Treasury Solutions Corporate Treasury Manager Bianca Botes.
08 Oct 2019 RAND FIRMER AS INVESTORS AWAIT MORE US-CHINA TRADE TALKS
Peregrine Treasury Solutions Corporate Treasury Manager Bianca Botes said the rand could trade at R15/$ or below ‘should risk sentiment improve’. The rand was stronger on Tuesday morning as investors anticipate some progress in the US-China trade war as the two countries begin negotiations on Thursday. Emerging-market currencies were bolstered by hope that the US and China will make headway at their high-level negotiations this week.
27 Sep 2019 RAND ON TRACK FOR SECOND WEEK OF LOSSES
The rand looks set for a second consecutive week of losses as global risk-off sentiment pushed emerging-market currencies lower and investors digested talk of impeaching US President Donald Trump. The focus locally is likely to shift towards the ANC’s national executive committee (NEC) meeting, which is due to meet at the weekend. Finance Minister Tito Mboweni’s economic recovery plan is likely to be discussed at the meeting.
21 Aug 2019 RAND FIRM AHEAD OF FED MINUTES
South Africa’s rand firmed in early trade on Wednesday, with traders waiting for the minutes of the Federal Reserve’s July meeting for possible clues on further U.S. interest rate cuts, as well as local consumer price inflation data. “The rand is steady this morning as markets prepare for the Fed minutes, which will guide markets as to where the Fed sees interest rates and growth are headed,” says Peregrine Treasury Solutions Corporate Treasury Manager, Bianca Botes.
16 Aug 2019 RAND SLIGHTLY REBOUNDS AS GLOBAL SENTIMENT PICKS UP
The rand was firmer on Friday rebounding after a heavy global sell-off week prompted by fears of a global recession and the concerns about the US-China trade war. Peregrine Treasury Solutions Corporate Treasury Manager Bianca Botes said the rand may not recover soon given the uncertainties in the global environment and the continuous sell-off of emerging market assets.
07 Aug 2019 RAND DROPS TO 11-MONTH LOW
The rand fell to an 11-month low on Wednesday, rocked by deepening concerns about the outlook for domestic growth against a backdrop of uncertainty for emerging markets more broadly. "With Donald Trump's efforts to put pressure on the Federal Reserve Bank coming into focus... an emerging market selloff has hit the local unit," says Peregrine Treasury Solutions’ Corporate Treasury Manager, Bianca Botes.