Like any commodity, the value of the rand is determined by the market forces of supply and demand. Its weakening is also affected by a myriad of structural problems facing the South African economy.
Articles on South African currency
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South Africa has had three finance ministers in four days. President Jacob Zuma will live with the fall-out for the rest of his term. Markets have a long-term memory and won’t easily forget.
The removal of Minister Nene is a significant act. The fact that he has been replaced by someone who is unknown and untested simply compounds it.
Top contributors
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Senior Research Fellow New South Institute, Emeritus Professor at The Nelson Mandela School of Public Governance, University of Cape Town
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Professor of Economics, Finance & Strategy at the Gordon Institute of Business Science, University of Pretoria
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Lecturer in Economics, University of the Witwatersrand