Inter Africa Bureau De Change was licensed by the South African Reserve Bank to operate as an Authorised Dealer in Foreign Currency with Limited Authority (ADLA) in September 1999. Our first branch opened in that same year at the Kopfontein Border Post between South Africa and Botswana.
The five-day weakening trend of the rand could continue, but the currency is due a little bounce, says an analyst.
The rand has weakened against the dollar on expectations that US interest rates would rise soon and concerns over the finance minister's future.
Oil has declined amid doubts that producers will agree on a deal to stabilise the market when suppliers meet next month for informal talks.
Japanese stocks have rallied on a weaker yen but other Asian markets retreated after Federal Reserve chief Janet Yellen hinted at a US interest rate hike by the end of the year.
Oil prices have tumbled on a strong dollar and after key OPEC producers downplayed the prospects of limiting output at a meeting next month.
The rand could swing depending on what happens regarding Finance Minister Pravin Gordhan and the investigation into an alleged illicit investigation unit at Sars.
Oil prices have edged higher but the market remained weak as Opec's key producers cast doubt on the possibility of cutting output.
European and US equities markets have been split after US Fed chief Janet Yellen suggested interest rates could rise in the near-term.
US stocks have been mixed on after Federal Reserve chair Janet Yellen incated the case for a rate hike is strengthening, raising expectations of a move by year-end.
The rand headed for the biggest weekly drop since May while benchmark government debt slumped by the most this year on concern Finance Minster Pravin Gordhan’s job is on the line.
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