The necessary debate on what to do about the stronger rand has gained momentum this year along with the unit. Although the collapse of the proposed MTN-Bharti Airtel deal knocked the rand last week, this year has seen the unit rise by about 40 percent against the dollar, pushed largely by capital inflows and global trends.
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Russia’s central bank vowed to defend its floor for the rouble on Friday as the currency sank to fresh record lows and its Finance Minister outlined forecasts for a year of no growth and a hefty budget shortfall.
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Are most of our leaders simply too polite to lay into one-hit currency speculators spreading doom and gloom like Jim Rogers or is the subject merely beneath them?
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The outlook on Taiwan’s long-term local currency issuer default rating (IDR) was revised to negative from stable, with the IDR affirmed at ‘AA,’ Fitch Ratings said.
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The quickening pace of Russia’s rouble devaluation is piling pressure on the currencies of its neighbours and putting those without Moscow’s sizeable reserves at risk of foreign debt default and further capital flight.
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