South African rand losses in the currency to look for higher-yield investments elsewhere and due to concerns over the impact of the economic slowdown in China, South Africa's largest export partner. By mid-January, economists were speculating that the Rand could expect to see further volatility for the rest of 2016. By 29 April, it reached its highest performance over the previous five months, exchanging at a rate of 14.16 to the United States dollar. Following the United Kingdom's vote to leave the European Union (EU), the Rand dropped in value over 8% against the United States dollar on 24 June 2016, the currency's
James Rand Jr. Irving Fisher), Safe-Cabinet Co. (which had invented the fire-proof safe), Library Bureau, Inc. (which had invented the filing cabinet), Dalton Adding Machine and Baker-Vawter Ledger. For a brief time in 1926, the company was known as Rand Kardex Bureau, Inc. In 1927, James Rand Jr. merged his company with the Remington Typewriter Co. (which had invented the noiseless and electric typewriters) and changed its name to Remington Rand. Company sales grew from $5 million in 1927 to $500 million in 1954. James Rand, Jr.'s wife, Miriam, died in 1927. He married the former Evelyn Huber in 1929. Rand was named