HILARY JOFFE: What a difference a year makes for a bouncing-ball currency
It’s been the best-performing large emerging-market currency this year. Why is the rand looking so strong?
The rand has been around and about lately, but early on Friday it was back at R14.20 to the dollar — a far cry from the R19 at which it cratered little more than a year ago, as global markets went into Covid-crisis mode.
So why is the rand looking so strong?..