• bitcoinBitcoin(BTC)$28,074.000.74%
  • ethereumEthereum(ETH)$1,871.290.92%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$312.360.58%
  • usd-coinUSD Coin(USDC)$1.000.08%
  • rippleXRP(XRP)$0.510.08%
  • cardanoCardano(ADA)$0.3897562.57%
  • dogecoinDogecoin(DOGE)$0.0830320.43%
  • staked-etherLido Staked Ether(STETH)$1,860.600.66%
  • matic-networkPolygon(MATIC)$1.121.23%
Sunday, December 3, 2023
No Result
View All Result
Crypto now 24
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • REGULATIONS
  • SCAMS
  • ANALYSIS
  • VIDEOS
MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • REGULATIONS
  • SCAMS
  • ANALYSIS
  • VIDEOS
No Result
View All Result
Crypto now 24
No Result
View All Result

South African Rand Plunges to New 2023 Low Versus the US Dollar – Africa Bitcoin News

March 12, 2023
in Bitcoin
Reading Time: 3 mins read
55 3
A A
0
Home Bitcoin
Share on FacebookShare on Twitter


Just some weeks after tapping its finest trade price versus the dollar in 2023, the South African rand fell to a brand new 2023 low of 18.636 native foreign money models for each greenback on March 7. South Africa’s energy shortages in addition to the nation’s latest grey-listing by the Monetary Motion Activity Drive (FATF) are believed to be fueling the rand’s slide.

10-Hour Energy Outages

The trade price of the South African rand versus the U.S. greenback not too long ago plunged to a brand new 2023 low of 18.636 models for each greenback on March 7, 2023, the most recent information has proven. Earlier than the most recent plunge, the rand soared to 16.721 per greenback on Jan. 12, 2023, the foreign money’s finest efficiency for the reason that begin of the 12 months.

Nevertheless, since then, the rand has depreciated by nearly 10% making it one of many worst-performing African currencies in 2023. In keeping with stories, the rand’s slide is blamed on South Africa’s endless electrical energy woes which have seen many properties and companies go for greater than 10 hours with out energy.

South African Rand Plunges to New Low Versus the US Dollar

The debilitating blackouts have since prompted South African president Cyril Ramaphosa to nominate the nation’s first minister of electrical energy. In addition to coping with the crippling energy cuts, president Ramaphosa stated the brand new minister, Kgosientsho Ramokgopa, is predicted to assist facilitate the coordination of entities which are working in the direction of discovering an answer.

“The Minister can be anticipated to facilitate the coordination of the quite a few departments and entities concerned within the disaster response, work with the Eskom management to show across the efficiency of current energy stations, and speed up the procurement of latest era capability,” president Ramaphosa reportedly stated.

In the meantime, some South African commentators have argued that the latest addition of South Africa to the Monetary Motion Activity Drive (FATF)’s greylist might be one of many explanation why the rand has not too long ago carried out poorly towards main world currencies.

On the time of writing (4:10 p.m. EST, March 10), the rand-to-dollar trade price stands at just below 18.6 models per dollar.

Register your electronic mail right here to get a weekly replace on African information despatched to your inbox:

What are your ideas on this story? Tell us what you suppose within the feedback part under.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, creator and author. He has written extensively concerning the financial troubles of some African international locations in addition to how digital currencies can present Africans with an escape route.



Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It’s not a direct provide or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any injury or loss brought on or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or providers talked about on this article.

Extra Widespread Information

In Case You Missed It



Source link

Tags: AfricaAfricanBitcoinDollarNewsPlungesRandSouth
Share76Tweet47
Previous Post

Bitcoin finds support at $20k and investors should keep an eye on the S&P 500 and the Fed.

Next Post

Polygon (MATIC) Set to Overtake Cardano (ADA) in Market Cap with COVO Launch on Uniswap

Related Posts

Bitcoin SV Price Defies Overbought Conditions, Up 12% T0 $40

Bitcoin SV Price Defies Overbought Conditions, Up 12% T0 $40

by Crypto Now 24
October 3, 2023
0

Be part of Our Telegram channel to remain updated on breaking information protection Bitcoin SV (BSV) worth has outperformed different...

A Crypto Recession Looming? Commodity Strategist Raises The Red Flag

A Crypto Recession Looming? Commodity Strategist Raises The Red Flag

by Crypto Now 24
October 3, 2023
0

Bitcoin (BTC) surged above the $28,000 mark on Monday, however amid the elation of this milestone, issues loom giant within...

October Rally Surges Wall Street Memes Price – Could This Be The Next Big Meme Coin?

October Rally Surges Wall Street Memes Price – Could This Be The Next Big Meme Coin?

by Crypto Now 24
October 3, 2023
0

Be a part of Our Telegram channel to remain updated on breaking information protection Wall Avenue Memes has rapidly grown...

This Is Why The XRP Price Fell To $0.50

This Is Why The XRP Price Fell To $0.50

by Crypto Now 24
October 3, 2023
0

The XRP value noticed an excellent run by way of the weekend into the brand new month of October, and...

Binance Draws Legal Fire Over Claims Of FTX Manipulation

Binance Draws Legal Fire Over Claims Of FTX Manipulation

by Crypto Now 24
October 3, 2023
0

In a class-action lawsuit filed on October 2 within the District Court docket of Northern California, Binance (Binance Holdings Restricted,...

Load More
Next Post
Polygon (MATIC) Set to Overtake Cardano (ADA) in Market Cap with COVO Launch on Uniswap

Polygon (MATIC) Set to Overtake Cardano (ADA) in Market Cap with COVO Launch on Uniswap

USDC Hits All-Time Low As Investors Pull Out Funds From The Stablecoin

USDC Hits All-Time Low As Investors Pull Out Funds From The Stablecoin

Shiba Inu Whales Shed Trillions Of Tokens On Shibarium’s Launch Day

Shiba Inu Whales Shed Trillions Of Tokens On Shibarium's Launch Day

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Coinbase Users Withdraw $600M in Crypto in a Day Amid SEC Lawsuits Against Binance, Coinbase

Coinbase Users Withdraw $600M in Crypto in a Day Amid SEC Lawsuits Against Binance, Coinbase

June 6, 2023
This Week in Coins: Bitcoin and Ethereum Survive CFTC’s Binance Crackdown

This Week in Coins: Bitcoin and Ethereum Survive CFTC’s Binance Crackdown

April 1, 2023

Unveiling Anodos: Exploring the Catalysts for Potential Cryptocurrency Growth

August 14, 2023
A former employee was behind $5 million exploit on Ankr

A former employee was behind $5 million exploit on Ankr

February 24, 2023
MASSIVE XRP Finding! (Ripple Lawsuit Implications)

MASSIVE XRP Finding! (Ripple Lawsuit Implications)

50
Bitcoin & Altcoins Will Collapse | Why A ‘Bull Market’ Is Not Possible Yet…

Bitcoin & Altcoins Will Collapse | Why A ‘Bull Market’ Is Not Possible Yet…

50
🚨ROBINHOOD DELISTS CARDANO ADA, POLYGON MATIC, & SOLANA – CUSTODIA CRYPTO BANK BIG WIN AGAINST FED

🚨ROBINHOOD DELISTS CARDANO ADA, POLYGON MATIC, & SOLANA – CUSTODIA CRYPTO BANK BIG WIN AGAINST FED

50
Altcoin Investors: You Need To Know This!!

Altcoin Investors: You Need To Know This!!

50
Ethereum Outpaces Bitcoin As Top Investment

Ethereum Outpaces Bitcoin As Top Investment

October 3, 2023
Altcoins To Keep On Your Radar

Altcoins To Keep On Your Radar

October 3, 2023
Postponed Philip Guston survey finally opens at Tate Modern

Postponed Philip Guston survey finally opens at Tate Modern

October 3, 2023
Binance Sued for Alleged Securities Violations and Crypto Market Supremacy

Binance Sued for Alleged Securities Violations and Crypto Market Supremacy

October 3, 2023
Facebook Twitter Instagram Youtube RSS
Crypto now 24

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Crypto Now 24.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Videos
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Crypto Now 24.
Crypto Now 24 is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • REGULATIONS
  • SCAMS
  • ANALYSIS
  • VIDEOS

Copyright © 2023 Crypto Now 24.
Crypto Now 24 is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
In conclusion, the question of whether the russian jet deliberately crashed into the u. “we would encourage anyone who hasn’t had their booster dose or who may be eligible for this fourth dose to make. , born wayne colley, is a comedian and social media personality who has gained a significant following in recent years.