Rand forecasts are depressing — but they are seldom right
Don’t focus on the headlines, but stick to your plan and make sure your investments are diversified
Discussions regarding the rand exchange rate have been known to lead to many emotionally charged debates. Many SA citizens use the exchange rate against major developed markets (such as the US and the UK) as an indicator of the state of the country. When the rand does well, South Africans tend to reflect this sentiment as they feel more secure and positive about the country’s outlook. The opposite is also true.
Negative sentiment has, unfortunately, grabbed hold and sentiment is quite possibly at an all-time low. The country is facing a plethora of challenges, such as Eskom bailouts, political infighting, a potential credit downgrade from Moody’s (to subinvestment grade), the unemployment rate being at an 11-year high (at 29%), subdued GDP growth ... the list goes on. It’s no surprise that South Africans are weighed down by the ongoing stream of negative headlines, but it’s not all doom and gloom, and SA can find some reprieve in knowing that the value of our currency is only ...
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