Economic Innovation
Awards

Cape Chamber celebrates trailblazers driving the regional economic ecosystem

Research to results: Q&A with Ravini Moodley on scaling innovation in a constrained economy

From blombos to beyond: Celebrating South Africa’s zany DNA of innovation

Jacques Moolman

MADE POSSIBLE BY:

More 2026 Western Cape Economic Innovation Awards

Subscribe & Follow

Advertise your job vacancies

Rand recovers from fall on the back of panel findings against president

The South African rand recovered some ground in early trade on Thursday, after weakening in the previous session following a panel of experts' findings against President Cyril Ramaphosa.

By Alexander Winning

1 Dec 2022

Source: Reuters.

An independent panel appointed by the speaker of South Africa's parliament on Wednesday found preliminary evidence that Ramaphosa had violated his oath of office, findings that could lead to his eventual impeachment.

The president has denied any wrongdoing. Ramaphosa has not been charged with any crimes.

At 0600 GMT, the rand traded at 17.0800 against the dollar, 0.7% stronger than its closing level on Wednesday as the dollar tumbled on global markets on comments by the US Federal Reserve chair that interest rate hikes could be scaled back as soon as December.

The rand ended Wednesday 1.2% lower against the greenback.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/