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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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"As Associate Company Counsel, my focus is to assist the business to grow and get deals and transactions done lawfully in a manner that is consistent with our regulators' expectations. The end result is good for our customers, good for counterparties with whom we deal, and good for the company."

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Rand rises against greenback

Sep 11, 2012 11:37 AM

The monetary unit of the African continent's largest economy rose in value on Tuesday amid optimism for the central bank of the U.S. implementing additional stimulus, according to Bloomberg.

The South African rand benefited from prospects that the policy-making arm of the U.S. Federal Reserve will discuss additional strategies of spurring the globe's largest economy when it convenes for two days of meetings beginning Wednesday.

"Generally, the market continues to trade with a positive risk bias ahead of the much-awaited FOMC decision," head of emerging markets research Benoit Anne with Societe General stated in an e-mail to Bloomberg on Tuesday. "The rand, which did sell off earlier this morning after a particularly bad current account number, did not waste too much time staging a bounce back."

South Africa's current account, which gauges commerce of goods and services, increased to 6.4 percent during the second quarter of the year, representing the largest shortfall since the third quarter of 2008.

Mail & Guardian reports economists had projected the current account deficit would climb to 4.7 percent.

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