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South Africa Currency

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NEWS
July 6, 1998 | DEAN E. MURPHY, TIMES STAFF WRITER
What do you wish for when the money in your wallet has lost nearly a quarter of its value in the past several weeks and experts warn that the squeeze is not over? A weekend. South Africans of all colors, means and political persuasions--even those with no interest in things religious--were basking Sunday in the Day of the Lord, perhaps more appropriately known in recent weeks as the Day of the Merciful Currency Gods.
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NEWS
July 6, 1998 | DEAN E. MURPHY, TIMES STAFF WRITER
What do you wish for when the money in your wallet has lost nearly a quarter of its value in the past several weeks and experts warn that the squeeze is not over? A weekend. South Africans of all colors, means and political persuasions--even those with no interest in things religious--were basking Sunday in the Day of the Lord, perhaps more appropriately known in recent weeks as the Day of the Merciful Currency Gods.
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BUSINESS
June 29, 1998 | From Reuters
South Africans may not know it, but when the country awakes today, it is likely to be a poorer place. Unprecedented aid from the central banks of Britain and the United States failed to stem a collapse in the value of the country's currency on world foreign exchange markets last week. The rand crashed 8% against the dollar in 24 hours--crushed in a monthlong attack after a worldwide emerging market crisis made it an easy target for currency speculators.
BUSINESS
June 29, 1998 | From Reuters
South Africans may not know it, but when the country awakes today, it is likely to be a poorer place. Unprecedented aid from the central banks of Britain and the United States failed to stem a collapse in the value of the country's currency on world foreign exchange markets last week. The rand crashed 8% against the dollar in 24 hours--crushed in a monthlong attack after a worldwide emerging market crisis made it an easy target for currency speculators.
BUSINESS
June 8, 1989 | From Associated Press
Goodyear Tire & Rubber said Wednesday that it is withdrawing from South Africa, partly because U.S. sanctions against the racially segregated country have made it hard to do business. "While we will regret leaving South Africa after providing jobs and livelihood there for 42 years, it is becoming increasingly difficult for American companies to obtain adequate returns on investments there," said Tom H. Barrett, chairman, president and chief executive of Goodyear. Goodyear is selling its tire and general products subsidiary in Uitenhage to Consol Ltd. for $65 million, the South African company said.
NEWS
December 11, 1985 | From Times Wire Services
The government announced Tuesday that payments on the principal of foreign loans will be postponed again, until March 1. The country is in the grip of recession, inflation and high unemployment, which have exacerbated its conflict over apartheid. On Sept. 1, President Pieter W. Botha's government froze repayment of principal on the $24-billion foreign debt and said payments would be resumed Jan. 1.
NEWS
August 22, 1985 | United Press International
Police killed one black man, wounded nine and arrested 103 more people today as anti-apartheid violence flared in black ghettos across white-ruled South Africa. The government announced a ban on meetings to mark the first anniversary of Sept. 3 riots in Sharpeville--the flash point for what hasbecome the bloodiest wave of race violence in South African history. More than 635 people--most of them blacks shot by police--have been killed.
NEWS
July 30, 1986 | Associated Press
Unidentified attackers killed seven people at a black homeland's main police station, and the home affairs minister of another homeland was killed when explosives demolished his car, authorities said today. Police in Transkei said three police officers were among those killed in the attack late Tuesday on the central police station in Umtata, the homeland's capital. Authorities originally reported a death toll of nine, including five officers, but Police Commissioner Gen. R. S.
NEWS
July 27, 1986 | PETER WELLMAN, Associated Press
Mark H. Rocke and his family have come back to the country they fled out of fear six years ago--fear of black rule in Zimbabwe. Like thousands of others who left what then was the British colony of Rhodesia, they had gone to South Africa, only to encounter the racial strife they feared so much here. "This is a country of racial peace, and we did the right thing coming home," Rocke's wife, Denyse, said.
NEWS
November 11, 1985 | Associated Press
The government, declaring that "charity begins at home," said today it may have to send home thousands of foreign black workers if sanctions force more South Africans out of work. Minister of Manpower Pietie du Plessis denied a report in an influential financial newspaper that the government already had approved the expulsion of some of the 1.5 million black foreign workers, many of whom work in the gold and diamond mines that supply much of South Africa's hard currency.
NEWS
August 3, 1987 | From Times Wire Services
A group of 22 young whites announced today that they will not serve in the country's army because of their opposition to apartheid, a decision that could cost some of them up to six years in jail. The men stood before the pulpit in a Cape Town Methodist Church directly opposite the city's main police station to identify themselves to the media and to state their opposition to apartheid, which they say the army defends.
NEWS
May 10, 1996 | SUDARSAN RAGHAVAN, SPECIAL TO THE TIMES
Less than 24 hours after the adoption of a historic constitution, apartheid's white former rulers said they will withdraw from President Nelson Mandela's coalition government and enter a new era as the country's main opposition. National Party leader and Deputy President Frederik W. de Klerk and six Cabinet members will depart June 30 after two years of power-sharing, but the party will retain its 82 seats in the 490-member Parliament.
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