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Near-term forward premiums in India surged on Tuesday with the one-month dollar/rupee premium trading at its highest level in more than two decades as massive dollar inflows towards an initial public offering skewed prices.
Traders said the unexpected surge in forward premiums has made the spot market highly illiquid Near-term forward premiums in India surged on Tuesday with the one-month dollar/rupee premium trading at its highest level in more than two decades as massive dollar inflows towards an initial public offering skewed prices. The partially convertible rupee was trading largely steady at 73.91/92 per dollar at 0830 GMT compared to its close of 73.9150 on Monday after earlier rising to 73.7725 levels. "As long as the carry is at such elevated levels, no one will go long dollar," the head of foreign exch...
After an early knock by Covid-19 containment measures, JSE-listed Capitec reported a dramatic improvement in headline earnings to just under R4bn for the second six months to the end of February. Its headline earnings fell for the year by 27% overall, but the bank has joined peers FirstRand and Standard Bank in resuming dividend payments. Capitec is now South Africa’s largest bank in terms of customer numbers. In this interview with Jackie Cameron of BizNews, CEO Gerrie Fourie shares why the bank reached a tipping point towards exponential growth and what’s next for Capitec as it continue...
WhatsApp The South African National Editors’ Forum (SANEF) is launching the fourth round of its Media Relief Fund – started to assist journalists who have lost their jobs and/or their income as a direct result of the Covid-19 national disaster declared in March 2020. Journalists who previously benefitted from the fund but whose’ circumstances have not changed or have since worsened can also apply and will be eligible in this latest round. Affected journalists are encouraged to submit their applications with all relevant and supporting documentation from today to be considered by the fun...
Some years ago Paul Harris, previously of First Rand, took the words of Madiba to heart about the importance of education. In the belief that literacy is the key building block he set up the Click Foundation with literacy as its specific purpose. Under the leadership of his daughter Nicola they have to date taken just over 103,000 children through the various programs. The target is 1,000,000. Now that is what I call making a real difference. CRADOCK CASE STUDY To help further the cause in Cradock where , as in most rural towns , the education is dire we assembled a team and identifi...