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SA Reserve Bank governor Tito Mboweni announced today that the oversold foreign exchange forward book was finally closed on 18 February 2004, from a high of USD24bn in 1985, 19 years ago.
Yesterday we heard how the budget affects various sectors and today Craig Pheiffer of Sasfin looks at some of the other issues.
The announcement of the annual budget each February is always eagerly awaited although it is just one piece of the overall economic puzzle.
The rand lost some ground against major currencies towards the end of the week after remaining relatively steady for most of the week, closing at R6,68 to the US dollar from R6,59 in the previous week, reports the Nedcor Economic Unit.
The strongest deterrent against FSP compliance missteps is or should be: