The rand has been hit particularly hard of late, with its 10% drop in the past month placing it among the worst-performing emerging-market currencies so far in 2020.

But French banking group BNP Paribas economist Jeff Schultz expects the currency to improve in the long term.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now