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Search resuls for: "Warren Venketas"


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South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration Acquire Licensing RightsJOHANNESBURG, Sept 7 (Reuters) - The rand recovered some losses on Thursday after a consumer confidence index improved, although new data also showed that South Africa's current account deficit had widened. "Today's consumer confidence and current account figures beat estimates providing some encouragement in what has been a tough year for South Africa with the rand attempting to claw back some lost gains," said DailyFX analyst Warren Venketas. Central bank data earlier on Thursday showed South Africa's net foreign reserves fell to $55.444 billion by the end of August from $55.626 billion in July. South Africa's benchmark 2030 government bond was stronger, with the yield down 2.5 basis points to 10.385%.
Persons: Mike Hutchings, Warren Venketas, Tannur Anders, Nellie Peyton, Bhargav Organizations: REUTERS, Rights, Johannesburg Stock Exchange, Thomson Locations: Rights JOHANNESBURG, Africa, Johannesburg
South African rand little changed as power cuts ease
  + stars: | 2023-06-19 | by ( ) www.reuters.com   time to read: +1 min
JOHANNESBURG, June 19 (Reuters) - South Africa's rand was little changed on Monday as a reduction in the intensity of rolling power cuts boosted the currency. At 1514 GMT, the rand traded at 18.1950 against the dollar , near its previous close of 18.1900. The dollar index , which measures the U.S. currency against six major rivals, was up 0.16% to 102.46. South Africa's benchmark 2030 government bond was weaker, with the yield up 4 basis points to 10.780%. Reporting by Anait Miridzhanian and Bhargav Acharya; Editing by Shailesh Kuber and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Warren Venketas, Anait Miridzhanian, Shailesh Kuber, Barbara Lewis Organizations: Reuters, Thomson Locations: JOHANNESBURG
Pound heads for biggest weekly gain in six months
  + stars: | 2023-06-02 | by ( Amanda Cooper | ) www.reuters.com   time to read: +3 min
LONDON, June 2 (Reuters) - Sterling headed for its biggest one-week rally against the dollar in six months on Friday, as U.S. interest rates looked increasingly likely to plateau sooner than UK rates. The pound has gained 1.5% against the dollar this week, the most since early December, and nearly 1.1% against the euro - which would be its largest weekly increase in nearly four months. Meanwhile, as UK inflation remains stubbornly high, traders have reassessed the outlook for monetary policy in Britain too. Money markets show markets are pricing for UK rates to peak at 5.32% by year-end, up from 4.50% now. A month ago, the expectation was that UK rates would be around 4.80% by December.
Persons: Sterling, Warren Venketas, Jordan Rochester, Amanda Cooper, Susan Fenton Organizations: NFP, Federal Reserve, Treasury, U.S, Nomura, Thomson Locations: Washington, Britain, Rochester
JOHANNESBURG, May 30 (Reuters) - The South African rand hit a record low on Tuesday on the back of a strengthening dollar and souring local investor sentiment that has seen massive capital outflows from the country. At 1518 GMT, the rand traded at 19.690 against the dollar , about 0.09% weaker than its previous close. Greg Davies, head of wealth at asset manager Cratos Capital, said South Africa was now a less desirable investment destination for international investors due to the local power crisis. "We've had poor results coming from Tiger Brands and Pepkor; two companies closely followed by foreigners," said Casparus Treurnicht, analyst and portfolio manager at Gryphon Asset Management. Tiger Brands shares crashed by more than 16%, while major retailer Pepkor (PPHJ.J) lost over a tenth of its market value.
Persons: Warren Venketas, Greg Davies, We've, Casparus Treurnicht, Alexander Winning, Tannur Anders, Rachel Savage, Sonia Cheema, Alison Williams Organizations: greenback, Cratos, Johannesburg Stock Exchange, Tiger Brands, Gryphon Asset Management, Thomson Locations: JOHANNESBURG, South Africa, Johannesburg
Reaction to expert panel report on South Africa's Ramaphosa
  + stars: | 2022-12-01 | by ( ) www.reuters.com   time to read: +3 min
[1/2] Nkosazana Dlamini-Zuma, former minister and chairwoman of the African Union Commission, attends the 54th National Conference of the ruling African National Congress (ANC) at the Nasrec Expo Centre in Johannesburg, South Africa December 17, 2017. REUTERS/Siphiwe SibekoJOHANNESBURG, Dec 1 (Reuters) - Cyril Ramaphosa's future as South African president was in question on Thursday, a day after a panel report found preliminary evidence he may have committed serious misconduct. "We need to look at the report, study its implications very carefully, follow the parliamentary processes and allow matters to take their course." NKOSAZANA DLAMINI-ZUMA, EX-WIFE OF FORMER PRESIDENT JACOB ZUMA"I think the president has to step aside now and answer to the case." JOHN STEENHUISEN, LEADER OF MAIN OPPOSITION PARTY, THE LIBERAL DEMOCRATIC ALLIANCE (DA)"The report is clear and unambiguous.
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