Photo source: The African Report
The South African rand is likely to benefit from the search for yield anticipated in the coming months as a result of central banks creating new money.
That is according to Alexander Forbes’ head economist Isaah Mhlanga, who foresees the local currency gaining some ground after losing almost 30% of its value against the US dollar. In recent weeks, the rand has been trading at R18.20 to the dollar.
Data Source: The African Report
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