On Friday Nersa published their reasoning behind only granting Eskom
an 8% tariff increase, drastically reducing Eskom’s return on investment,
revising the utility’s depreciation allowance and cutting its operating budget.
maintain that it will not be able to stay sustainable and
cash-positive with only an 8% tariff increase and that the company will
approach government for a discussion on its mandate.
The central bank’s yearly stress tests of 18 key American banks
showed the banking industry had grown much healthier since the start of the
financial crisis in 2009, said Federal Reserve chairman, Ben S. Bernanke on
Monday night.
Yesterday, the rand
reached its strongest level in 5 weeks as it broke below the 9.0000 handle.
This has opened the door to possibly test levels as low as 8.8000 later this
week. The USD-ZAR is expected to trade between 8.90– 9.0500 today.
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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