We can, potentially, go stronger…— George Glynos, ETM Analytics
It comes at a time when risk appetite, globally, has improved.— George Glynos, ETM Analytics
At 3.32pm on Thursday the rand was trading at R11.87 to the US dollar.
This is the strongest level the volatile South African currency has traded at in about three years.
Why is the rand so strong?
Many economists say it’s due to rapidly improving sentiment since the election of Cyril Ramaphosa as ANC president as well as dollar weakness.
The Money Show’s Bruce Whitfield asked ETM Analytics Economist George Glynos why he thinks the rand is so strong.
Listen to the interview in the audio below.
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