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
Rand Group officials with the Mongolian government on applications of business technology to their petroleum and natural resource industry as part of a five-day workshop put on by the US Department of Commerce. Rand Group was formed in 2003 by the acquisition of the technical consulting division of Hein & Associates LLP, a regional accounting firm. Between 1996 and 2003, prior to the formation, the same management team provided the same service offering at Hein. Rand Group received Gold Partner status in 2005, primarily as a result of its 90% client retention rate. Since 2004, Rand Group has consistently ranked in Accounting