Tag: foreign exchange

Pre-COVID-19, travel and tourism contributed 6.9% to South Africa’s gross domestic product, declining to 3.7% in 2020. Similarly, the number of jobs created by the sector dropped by 32.4% from 1.5 million to 987,000. It was, according to Statistics SA, bigger than agriculture, utilities and construction.

Russia’s invasion of Ukraine has opened fault lines between nations which will affect trade relations and investment for years to come. The war in Ukraine is already having a significant effect on inflation and activity in the world economy as commodity prices have soared and supply chains have been disrupted.

The South African Reserve Bank (SARB) recently announced their intention to declare cryptocurrency as a financial product, which is in line with current worldwide trends as well as the Financial Sector Conduct Authority (FSCA) which published a draft declaration of crypto assets as financial products in 2020.

If you’re in the business of importing or exporting, you will be acutely aware of the current pains caused by global supply chain problems. With the help of expert advice, there are several steps you can take to protect your business.

The rising cost of living continues to tighten its grip on the economy, giving scammers, fraudsters and hustlers the green light to prey on those desperate enough (and potentially unaware of the dangers) to choose an easy way out of the financial hole they have fallen into.

It’s been a busy time for the US dollar. On the one hand, it has featured heavily in commentary on the future of the global monetary system. On the other hand, it has surged in foreign exchange markets. In other words, even as many commentators question the future of the dollar as global reserve currency, participants in foreign exchange markets have scrambled to buy more dollars.

At Bidvest Bank, we don’t see entrepreneurship as a short-term journey. As the finance partner to South Africa’s most successful entrepreneurs, we are invested in travelling the long road with you. We want to start your business journey with you and be your trusted financial advisor during growth and expansion but also through the difficult times.

A generally weakening Rand and mounting inflationary pressures have meant that the South African Reserve Bank (SARB) has once again raised interest rates - to the distinct detriment of the weakest members of our society.

The bigger the military operation, the more sophisticated the financial machinery required to fund it. The Bank of England, today still the UK’s central bank, was created in 1694 as the government’s bank, largely to finance its ongoing wars with France.

Foreign exchange fluctuations can have a material impact on investment portfolio returns measured in terms of a base currency. We dedicate significant resources into understanding currencies through a range of models, backed by observations from our local teams.