Word: rand
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Dates: during 1980-1989
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...addition, Du Plessis announced the reintroduction of the two-tier rand, which was in effect until 1983. Under this system, the U.S. dollar price of the "financial" rand will be set by the central bank and pegged lower than the "commercial" rand. Foreign investors will be able to buy South African stocks at the lower financial rate, but will be required to sell at that rate. The financial rands will not be allowed to leave South Africa, although nonresidents will be free to buy and sell title to them in other countries...
...though it failed to stamp out the rioting. But the signs were growing that Pretoria is coming under increasing pressure from abroad. On Tuesday the government suspended all currency and stock-market trading until this week. That move followed a disastrous drop in the value of the South African rand, which was worth $1.29 in 1980, 80 cents in early 1984, and last week hit an all-time low of 35 cents. Another critical factor has been the refusal of many American and European banks to renew loans to South African borrowers. Last week the governor of South Africa...
...areas grew by 14.4% and metropolitan areas by 10.5%. Since 1980, however, that "rural turnaround" has again turned around, with metro areas growing faster than non-metro areas. But one aspect of the 1970s trend endures. "People are moving to smaller, less crowded communities," says Peter Morrison of the Rand Corp.'s population research center, "particularly those with a population under a quartermillion." Notes Bryant Robey, founder of American Demographics: "America's past has been one of steady centralization; its future is likely to be one of steady population deconcentration...
...their large refugee contingent, the new Asian arrivals are at least twice as likely as a native-born American to be college graduates. Moreover, since many others are admitted because of a desirable vocational background, the group as a whole has greatly enriched the nation's talent pool. Says Rand Corp. Demographer Kevin McCarthy: "The Asians are the most highly skilled of any immigrant group our country has ever...
...tend to move out of the ghetto and melt into the rest of society." Asians often have it easier because they come from urban middle-class backgrounds. "They are the most highly skilled of any immigrant group our country has ever had," says Kevin McCarthy, a demographer at the Rand Corp. in Santa Monica, Calif...