Peregrine Treasury Solutions

15 Feb 18

Rand Could Reach R11.50/$ on #Zumexit, Ramaphosa Presidency - Analyst


Should SONA (State of the Nation Address) and the Budget Speech go down without too much criticism, one can almost assume that Moody's will hold off from downgrading South Africa’s credit rating for the time being,” suggested Bianca Botes, of corporate treasury management at Peregrine Treasury Solutions.

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15 Feb 18

Rand Cheers Zuma Exit


South African president Jacob Zuma resigned late on Wednesday evening, bringing to an end his near nine-year long tenure and leaving the nation’s leadership in the hands of recently elected ANC leader, Cyril Ramaphosa. The rand strengthened to a two and a half year high after Zuma stepped down, if only to avoid a planned vote of no confidence to be held on Thursday.

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15 Feb 18

Rand Remains Steady as Ramaphosa is Announced as New President


Bianca Botes, an analyst at Peregrine Treasury Solutions, said the rand is expected to trade in a range of R11.70 to R12 against the greenback, leading up to the budget speech next.

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12 Feb 18

Brighter Future May Avert Downgrade


Today investors are eyeing the latest South African political developments as President Jacob Zuma and ANC leader Cyril Ramaphosa lock horns in a leadership battle, which has heavily impacted the rand and as analysts hold out more optimism that South Africa can potentially avert a ratings downgrade by Moody’s Investors Service.

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09 Feb 18

Rand Firmer as Bulls Hang in Despite Zuma Impasse


South Africa’s rand firmed on Friday, recouping losses from the previous session as investors continued to bet on the ruling African National Congress (ANC) unseating scandal-plagued President Jacob Zuma in the next few days.

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