The rand is undervalued right now – here’s where it is heading for the rest of the year: Nedbank.
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Global financial conditions are likely to become less supportive of the rand despite data showing the local currency is already undervalued, say economists at Nedbank.
In a research note published on Friday (27 May), the bank noted that the US Federal Reserves’ move to increase interest rates at pace will likely support the dollar, placing renewed pressure on emerging market currencies such as the rand.
In a research note published on Friday (27 May), the bank noted that the US Federal Reserves’ move to increase interest rates at pace will likely support the dollar, placing renewed pressure on emerging market currencies such as the rand.
