This is why investors are backing the soaring rand
SA’s currency has recovered all its losses since it slumped to record weakness in April 2020, and then some
11 May 2021 - 17:22
The rand’s 30% gain against the dollar since the height of the pandemic has outstripped emerging-market peers — and the rally may not be over yet.
SA’s currency has recovered all its losses since it slumped to record weakness in April 2020, and then some. Strong commodity prices and the global search for yield should support the narrative for further gains in coming months. Domestic fiscal metrics — though still far from healthy — are improving along with terms of trade, while the government’s crackdown on corruption is also fuelling positive sentiment...
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