Business Day Spotlight

PODCAST | Where do we stand with the rand?

Host Mudiwa Gavaza is joined by Terence Hove, a financial markets analyst at currency trading firm Exness

Terence Hove, a financial markets analyst at currency trading firm Exness. Picture: SUPPLIED
Terence Hove, a financial markets analyst at currency trading firm Exness. Picture: SUPPLIED

Our host Mudiwa Gavaza is joined by Terence Hove, a financial markets analyst at currency trading firm Exness.

Hove says the local currency has had a volatile year, characterised by many peaks and troughs as economic factors change over time. The rand strengthened to R13.40/$ in May, yet fell to as low as R15.40/$ at other points.

In the last two weeks, the rand has strengthened 6.5% against the dollar, driven in part by the weakening of the US currency.

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Mudiwa Gavaza. Picture: DOROTHY KGOSI.
Mudiwa Gavaza. Picture: DOROTHY KGOSI.

Hove runs through the impact on the rand of various indicators including GDP, unemployment, manufacturing data, US monetary policy and the Covid-19 vaccination effort.

Topics of discussion include the performance of the rand so far the year; is the current rand strength sustainable?; geopolitical factors affecting SA’s economy; the country’s performance relative to its emerging market peers and the US; and the importance of Covid-19 vaccinations for SA's economic prospects.

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 Business Day Spotlight is a MultimediaLIVE production.


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