SA backs Brics common currency plan

SA is backing plans for a single currency unit within the exclusive Brics grouping that the emerging giants could use to trade among themselves.

No parting gift from Tito

Reserve Bank governor Tito Mboweni has announced for the last time, that the repo rate was accordingly left unchanged at 7.00%.

Rand weakens sharply, stocks slide

The rand fell to a new, six-and-a-half-year low against the dollar on Wednesday, and local stocks also plunged on falling commodity prices.

Recession fears hit financial markets

Warnings of an "inevitable" global recession and the expectation of more interest-rate cuts triggered global financial turmoil on Wednesday.

Rand falls to six-year low against dollar

The rand fell to a six-year low against the dollar on Wednesday, losing about 60% of its value this year as it dipped as low as 11,07 to the dollar.

Rand collapses against world currencies

The rand slumped overnight, moving above the R10-a-dollar level, and was early on Thursday morning trading at its worst levels since August 2002.

Southern African free trade zone launched

Southern African countries have launched a regional trade zone that aims to eliminate import tariffs, with plans for a common currency by 2018.

Zim to lop 10 zeros off currency

Zimbabwe will re-denominate its dollar by removing 10 zeros from August 1, central bank Governor Gideon Gono said on Wednesday.

Feeble pound shifts Britons' holiday targets

As the summer holidays begins, sterling's frailty coupled with a rise in air fares are changing Britons' holiday plans in Europe.

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