The rand’s taken a beating amid market carnage, but ‘will bounce back’
Interest-rate cuts by developed markets’ central banks could boost SA assets with their higher yields, says economist
The rand has been hit particularly hard of late, with its 10% drop in the past month placing it among the worst-performing emerging-market currencies so far in 2020.
But French banking group BNP Paribas economist Jeff Schultz expects the currency to improve in the long term.
The rand resumed its drop on Thursday, sliding more than 1% in the morning as US President Donald Trump added to market uncertainty by banning European travel to the US, causing carnage for the shares of European airlines such as British Airways parent company IAG, which was down about 10%. ..