Volatility in rand is par for the course and highlights need to diversify
In a strange turn of events the rand recently strengthened at the same time as commodity prices
Fluctuations in the rand-dollar exchange rate certainly make for lively headlines. “Baffling rand volatility continues as it goes to the top of the pile (https://www.businesslive.co.za/bd/markets/2020-09-01-baffling-rand-volatility-continues-as-it-goes-back-to-top-of-the-pile/)” (BusinessLIVE); “Rand volatility heads for uncharted territory as risks pile up” (Moneyweb); and “Rand volatility soars to eight-year high before rates decision” (Bloomberg).
Yes, the rand has been volatile, but less so in the past few weeks than it was past year. And movements in the rand have different implications for businesses, depending how they generate revenue and profits...
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