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Why South Africa’s rand is so smoking hot right now

10 May 2021 6:21 PM
Tags:
Rand
The Money Show
Bruce Whitfield
Exchange rate
John Cairns
South African rand
global currency market
rand dollar exchange rate
Rand Merchant Bank
rmb
currencies
exchange rates

The Money Show’s Bruce Whitfield interviews John Cairns, Global Markets Strategist at Rand Merchant Bank.

The South African rand broke through R14 to the US dollar on Monday on the back of surging commodity prices.

The rand is trading near levels last seen in January 2020.

Picture: 123rf

By 4:05 PM, the rand was trading at 14.00 to the dollar.

The “Bloomberg Commodity Index” - a broadly diversified commodity price index – is at its highest level in almost a decade.

The Money Show’s Bruce Whitfield interviewed John Cairns, Global Markets Strategist at Rand Merchant Bank.

It’s mostly global issues driving it… The rand doing very well.

John Cairns, Global Markets Strategist - Rand Merchant Bank

We’ve got excellent global growth… The best in our lifetimes… The next 12 to 18 months is going to be mindbogglingly good… Our March trade surplus… such a phenomenal figure…

John Cairns, Global Markets Strategist - Rand Merchant Bank

The rand tends to appreciate for longer and get stronger than most people expect… Commodity prices are favourable… All good for the moment…

John Cairns, Global Markets Strategist - Rand Merchant Bank

Listen to the interview in the audio below.




10 May 2021 6:21 PM
Tags:
Rand
The Money Show
Bruce Whitfield
Exchange rate
John Cairns
South African rand
global currency market
rand dollar exchange rate
Rand Merchant Bank
rmb
currencies
exchange rates

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