The rand outperforms its peers in other emerging economies.
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GUEST - Dr Roelof Botha is an economic advisor to the Optimum Investment Group.
During May, most key currencies took advantage of the lethargic performance of the US dollar, with the bulk of the 16 currencies monitored by Currencies Direct strengthening against the greenback. The rand was the star performer during May, leaving all other emerging markets in its wake. Compared to the trade-weighted average appreciation of 0.7% against the dollar by a core group of eleven key emerging market currencies, the rand gained 3.1%.
During May, most key currencies took advantage of the lethargic performance of the US dollar, with the bulk of the 16 currencies monitored by Currencies Direct strengthening against the greenback. The rand was the star performer during May, leaving all other emerging markets in its wake. Compared to the trade-weighted average appreciation of 0.7% against the dollar by a core group of eleven key emerging market currencies, the rand gained 3.1%.
