International scenario South Africa: The maximum value payable per cheque is currently set at R5 000 000– (Five Million Rand/Rs.3.05Crore). In instances where cheques for higher values are issued that will be cleared manually between the banks and the beneficiary’s accounts will only be credited on completion of this process.
The changing cash management strategies of conglomerate firms, foreign investors and multinational banks are resulting in fundamental changes to the way our foreign exchange markets work. We need research into these markets. We need alternative approaches to interest rate determination and more realistic models of interest rate effects.