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Cryptos are tokens, not currency, says SARB
May 25, 2018--The South African Reserve Bank chooses to call digital currencies such as Bitcoin "cyber-tokens" because they don't meet the requirements to be classified as money.
"We don't use the term 'cryptocurrency' because it doesn't meet the requirements of money in the economic sense of the stable means of exchange, a unit of measure and a stable unit of value," Reserve Bank Deputy Governor Francois Groepe told reporters in Pretoria on Thursday. "We prefer to use the word "cyber-token'."
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Source: FIN24
JSE down amid global jitters on Trump's China trade remarks
May 23, 2018--The JSE closed weaker on Wednesday, as it followed the trend in global equities which pulled back after President Donald Trump's comments on China trade talks.
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Source: FIN24
Nigeria's GDP Per Head To fall For 8 Straight Years-IMF
May 24, 2018--Nigerians will see their real income per head fall every year until at least 2023, according to forecasts by the IMF, a potentially painful squeeze for a country with per capita gross domestic product of just $1,994.
If realised, Africa's most-populous country-projected to have almost 400m people by 2050, behind only India and China-will suffer at least eight straight years of declining income per capita.
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Source: proshareng.com
Rand runs as Turkey props up lira with massive emergency rate hike
May 23, 2018--The rand is expected to continue the claw-back of gains made following an improvement in risk sentiment late last week.
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Source: FIN24
Nigeria:Investors Lose N100 Billion in Three Trading Days
May 23, 2018--The dominance of the bears remains unabated in the equity sector of the Nigerian Stock Exchange (NSE), following continued price losses by virtually all the blue chip stocks as investors' wealth depreciated by N100 billion in three trading days.
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Source: FIN24
JSE closes firmer after erasing earlier losses
May 22, 2018--The JSE closed firmer on Tuesday despite briefly trading in the red after opening, with bankers and retailers in particular benefiting from the firmer rand.
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Source: FIN24
Rand at its 'unpredictable best' as it strengthens 1%
May 22, 2018--The local currency started the day on a stronger footing as the dollar receded somewhat from recent highs.
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Source: FIN24
JSE closes flat after erratic session as rand takes a beating
May 21, 2018--The JSE closed flat on Monday after a volatile trading session, which could largely be attributed to the rand's significant weakening against the greenback to a new five-month low.
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Source: FIN24
Rand is back to its bad old ways
May 21, 2018--After outperforming emerging-market peers for much of the year, the rand is now falling as the dollar strengthens.
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Source: FIN24
