Assuming South Africa avoids a downgrade from Moody’s, the Rand will be driven increasingly by expectations for South African monetary policy and offshore factors during the months ahead.

February 23,2018

Treasury has been under pressure to set out concrete revenue raising measures in order to preserve its investment grade local currency credit rating and, on Wednesday, it appeared to have delivered

February 21,2018

 The South African Rand has strengthened due to an improving political outlook - we think there is a good chance it will continue.

February 20,2018

S&P Global Ratings says recent events do not warrant a review of its already-downgraded score for South Africa's debt while Moody's, yet to announce its latest rating decision, is staying mum.

February 16,2018

Jacob Zuma's resignation is significant but much still rests on whether the Treasury can use next Wednesday’s budget statement to set out a credible plan for bringing down South Africa’s budget deficit.

February 16,2018

As the ANC moves for a no confidence vote in parliament, President Jacob Zuma is playing for a July departure. That may be too long for markets, and ratings agencies, to wait. Further updates to come.

February 14,2018

A changeover at the top of is the minimum international markets have come to expect if South Africa’s finances and politics are to be reformed in a way that is conducive to a recovery from years of economic malaise.

February 13,2018

South African politics is likely to be the main driver of the pair with an appreciation of the Rand likely if president Zuma is ousted from power.

February 12,2018