Johannesburg launches currency futures
The Johannesburg Stock Exchange (JSE) has launched the first in a series of currency futures contracts. The rand/US dollar futures started trading yesterday on Yield-X, JSE's interest rate exchange.
Though the rand itself is still subject to some exchange controls, the currency futures allow individuals and foreigners to invest without limit in foreign exchange movements; other investors such as trusts and investment funds will need approval from the government.
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