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The rand is set to finish the first quarter more than 10% stronger against the US dollar, its best start to a year since Bloomberg began tracking the pair in 1993. South African equities and bonds also posted strong returns as commodity prices rose.
Investors moved funds into South Africa as a haven from the Ukraine war and Fed tightening.
Higher commodity prices and a stronger rand together show that South Africa's export earnings are rising. A firmer rand makes dollar-priced commodity imports cheaper for South African buyers.
moneyweb.co.zaAdelaide Changole, Colleen Goko, BloombergMar 31, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
