Forex rates on 31st march 2015 - March monthly exchange rates -

New Nelson Mandela banknotes launched". Retrieved 16 July Standard Catalog of World Coins: Standard Catalog of World Paper Money: Bruce II and Neil Shafer editors 7th ed.

Economy of South Africa.

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List 10 other official names: Krugerrand value pegged with 1oz gold. South African Reserve BankNovember Lesotho lotiSwazi lilangeniand Namibian dollarall at par. Jan van Riebeeck, Union Buildings and springbok.

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South African pound Reason: Currency of South Africa —. Currency of South West Africa — Note: Currency rtes Namibia — Legal tender in Namibia —.

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South African rand continues to circulate unofficially. Currency of Bechuanaland Protectorate — Currency of Botswana — Nedbank Greenbacks Rewards Programme.

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Fatima Bhoola 18 Jan Given that South Africa operates within a flexible exchange rate regimethe value of the rand, like any commodity, is determined by the market forces of supply and demand. The demand ratfs a currency relative to the supply will determine its value in relation to another currency.

Theoretically, the demand for a floating currency — and hence its value — changes continually based on a multitude of factors. In the case of the rand, its current weakness can be attributed to a myriad of structural problems facing the local economy.

This is closely linked to the growth and national income of its main trading partners. Equally important is the domestic interest rate.

If it is high it is likely to attract foreign capital, causing the exchange rate to strengthen. But high inflation can wipe out the benefit of high interest rates to foreign investors.

These include a current account deficit. The current account deficit gets bigger when a country spends more on foreign trade than it is earning and has to borrow capital from foreign sources to make up the difference. This implies that a country requires more foreign currency than it is getting through kursy walut forex wykres of exports, and it supplies more of forex rates on 31st march 2015 own currency than foreigners demand for its products.

This excess demand for foreign currency leads to depreciation in the value of a currency. Factors such as political instability forex rates on 31st march 2015 poor economic performance can reduce investor confidence. This inevitably forces foreign investors to seek out stable countries with strong economic performance.

Thus, a country that is perceived to have positive attributes will attract investment away from countries perceived to have more political and economic risk. fkrex

There is a further complication to currency movements. The buying and selling of currencies is no longer driven only by the need to facilitate trade but also by the demand for currencies as financial match.

This means that currencies are bought and sold like any other asset. Decisions by traders — mzrch buy or sell a currency — can have a marked effect.

The aim was to weaken the yuan to boost its export competitiveness. This, coupled with slower economic growth, has aggravated the situation for South Africa as well as other African countries that rely on oil and mineral exports to China.

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Emerging markets most exposed to lower growth prospects and subdued commodity prices have seen the sharpest falls. The rand is expected foreex remain under pressure with many analysts predicting that it will fall further in It is not alone.

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Many other emerging market currencies have been dealt the same fate. But the rand is substantially weaker than it might have been. Firstly, the weakening ratds carries the risk of pushing up inflation because imported goods are more expensive.

This means that the South African Reserve Bank faces a difficult decision.

Description:R'm, R'm. Gold and foreign-exchange holdings. Gold coin and bullion, 58 It is not practicable to calculate effective yields on the portfolios due to the volatility caused by exchange rate fluctuations. As at 31 March

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