Jump to navigation

Vol 45 No 3

Published 4th February 2004

South Africa

Roller-coaster rand

Orthodox policies and populist gestures aim for a winning electoral strategy

Two years ago the value of South Africa's currency, the rand, was plummeting so fast that the government, suspecting a conspiracy of speculators, opened an investigation. Then the rand soared upwards, shocking tourists and triggering a sharp decline in domestic interest rates. Now it's heading downwards again, slowly losing value against the US dollar (which is itself falling) and more quickly, against the Euro and sterling.

End of preview - This article contains approximately 1044 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.