More than R120 Million in hard cash was looted from ATMs and banks during the recent ANC violence that swept through parts of Gauteng and KwaZulu-Natal in mid-July. This amount is much higher than the initial estimates and does not include the repair costs.
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R120 Million Cash Stolen from ATMs and Banks During ANC Riots, Financing More Organized Crime and Corruption!
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Z-Day has arrived for Rand!
The countdown has begun as Zuma’s days as President appear to be numbered with the ANC NEC meeting later today.
After the long wait and numerous speculation “Patience” is still key. USD/ZAR opens below 12/$ as EM Markets remain strong regardless of the volatility in global stock markets.
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Rand slides on US inflation fears
The rand weakened overnight as a result of better than expect US Jobs numbers and wage growth released Friday, sparking fears of higher than expected US interest rate increases during 2018.
The US stock market lost 2.5% as investors cashed out to hold USD in anticipation of a Fed hike in March. The GBP/ZAR continues to flirt with the 17/£ level as a false break to 17.10/£ on Friday was given back on speculation over Zuma’s demise.
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