South Africa’s current account deficit number came in at a deficit of 6.1% of GDP in the second quarter of 2006. Although it is contracting, as last quarter was 6.4%, the bigger picture is still bearish for the South African rand. With a slowing growth environment, investors will generally put countries with current account deficits [...]

With hyperinflation in Zimbabwe, the Reserve Bank of Zimbabwe was forced to devalue the Zimbabwe dollar. Three zeros are being cut off the country’s banknotes, and August 21st was the last day to turn in the old currency. Many problems arose as people could only cash in 5 billion Zimbabwe dollars (~$200 value). The rest [...]