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