Early on Monday the rand weakened within a recent range
against the dollar, with bonds also turning weaker after more outbreaks of
labour strikes in the mining and transport sectors. The USD-ZAR was down to
9.3053 at 10:28, off a 9.2220 close in New York on Friday.
The SA Commercial, Catering and Allied Workers' Union
(Saccawu) members of the National Bargaining Council for the Road Freight and
Logistics Industry have planned there strike to start on Monday. “Workers,
after a lengthy negotiation and legal processes, reached a deadlock with the
employer,” said spokesman Mike Abrahams in a statement.
The World Bank and International Monetary Fund ended (IMF)
their annual spring meetings with a strong message for Europe: Do more. Many
European leaders seem to agree with this message and are talking about lowering
the pace of budget cuts to encourage European growth.
To read the full report, visit the Currency Solutions
website. Transferring funds out of South Africa/Money transfers into South
Africa – Let one of our professional consultants at Currency Solutions assist
you. To know more about how we can help you Contact Us.
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