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Deputy Governor Francois Groepe said the rand moves with other emerging-market currencies rather than on domestic factors. He noted it is the 16th most-traded currency globally, with about $4 billion in daily spot turnover.
The rand was heading for its best November performance in 30 years.
Because the rand tracks emerging-market sentiment, feed importers in South Africa face currency swings driven by events elsewhere. This adds volatility to their landed input costs.
moneyweb.co.zaAntony Sguazzin, Rene Vollgraaff, BloombergNov 30, 2018Not 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.
