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A PSG Old Oak portfolio manager attributes the rand's strength to record current-account surpluses and rising commodity exports, with precious metals and stones leading. Monthly commodity export receipts have reached almost R25 billion, against a decade average of about R16.5 billion.
He notes that political uncertainty and last year's junk downgrade have not dented the currency.
Strong commodity export receipts support the rand, which lowers the local-currency cost of imported feed inputs. The gain depends on commodity prices holding up.
moneyweb.co.zaSimon BrownApr 30, 2021Not 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.
