The South African rand is the weakest currency in the world – The Economist
The South African rand is the weakest currency in the world.
The rand is undervalued by 62% against the US dollar, according to the latest Big Mac Index by The Economist.
Other currencies that are extremely undervalued:
Russian rouble (61.2%)
Romanian leu (61.2%)
Turkish lira (61%)
The US dollar is strong by historical standards and all but two of the world’s currencies – the Norwegian krone and the Swiss franc - are undervalued when measured against it.
Having an undervalued currency makes a country’s exports more competitive and its imports more expensive.
Finance Minister Tito Mboweni is under pressure to decrease the Public Service Wage Bill but PSA says it will fight this.Read More
Deepfake video is one of the scariest new technologies in the world of fake news.Read More
A witty reply to a mouldy Whopper is a winner.Read More
The private schooling business has always been seen as very resilient in the face of economic downturns.Read More
Some pre-budget personal finance advice from wealth builder Warren Ingram.Read More
''We can play a role in the upper segment, without sacrificing what Shoprite stands for.''Read More
Call centre services across the country have been put on hold due to an issue with Telkom’s network.Read More
The canned pilchards at the centre of a widespread recall was distributed outside South Africa's borders, the regulator has confirmed.Read More
There’s a government subsidy you may not have heard about. Abongile Nzelenzele interviews 1Life’s Katharine Liese.Read More
Economist Dawie Roodt says it's unlikely that the country will be happy with Finance Minister Tito Mboweni's Budget speech on Wednesday.Read More