SOUTH AFRICA: A weaker rand could bolster Distell exports
By Arnold Kirkby | 10 October 2001
The depreciation of the rand could improve export potential for Distell, David Nurek, chairman said at the first annual general meeting of the merged company in Stellenbosch today. In recent months the rand-pound and rand-dollar exchange rate has seen dramatic movement in favour of the two northern hemisphere currencies. At present the exchange rate is R/£13.46 after peaking last week about R13.80, while the R/$ is currently R9.26.
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The depreciation of the rand could improve export potential for Distell, David Nurek, chairman said at the first annual general meeting of the merged company in Stellenbosch today. In recent months the rand-pound and rand-dollar exchange rate has seen dramatic movement in favour of the two northern hemisphere currencies. At present the exchange rate is R/£13.46 after peaking last week about R13.80, while the R/$ is currently R9.26.
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