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Opinion divided on strength of rand: opinions on the strengthening South African rand are almost equally divided--some see it as a sign of confidence in the country; others as a short-cut to economic disaster. Who is right? Tom Nevin has been finding out.(South Africa)
African Business
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August 1, 2004|
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This is another fine mess you've gotten us into, Stanley," as Oliver Hardy famously used to say to his side-kick, Stan Laurel in the 1950s comedy series, Laurel and Hardy. It could be South Africa talking to its currency.
[ILLUSTRATION OMITTED]
As the rand, against all prediction, continues to strengthen, breaking through the R6:$1 barrier in mid July, it has tossed more than one large cat amongst South African economic pigeons. It has also divided the country into two contradictory camps--those who think the strong rand is good for the country and those ...
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