South African rand steady
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South Africa's rand, stocks and government bonds strengthened on Friday, boosted by higher gold prices as worries over the United States' worsening fiscal health sent investors into the safe-haven asset.
VAT hike still on the table: According to Izak Odendaal, chief investment strategist at Old Mutual Wealth, South Africans may face a VAT increase next year if the National Treasury cannot improve government spending efficiency and SARS does not close the tax gap. [ Daily Investor]
Welcome to the South African Rand exchange rate & live currency converter page. The South African Rand (ZAR) exchange rates represented on this page are live, updated every minute within the forex ...
CAPE TOWN (Reuters) -South Africa's National Treasury said on Wednesday that this fiscal year's budget deficit would be wider and public debt higher after it was forced to backtrack on a proposed increase in value-added tax (VAT).