Monday, March 29, 2010

Rand to Rise and Fall, Though With Only Slight Relation to World Cup

The South African Rand is expected to see some appreciation in the lead-up to the World Cup, though mainly because of speculation as opposed to economic activity.

And the depreciation thereafter would have more to do with "some growth disappointments in the global economy and, therefore, heightened risk aversion rather than any deterioration in local conditions", according to Nedbank group chief economist Dennis Dykes.

World Cup to test stability of local currency
Business Report
March 23, 2010