• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Longest Rally In A Decade Propels South African Rand To World’s Best Currency

12 months ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
130
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

Longest Rally In A Decade Propels South African Rand To World’s Best Currency

South Africa’s rand is experiencing its longest winning streak in 13 years. The currency has gained for nine consecutive days, reaching its highest closing level in five weeks.

South Africa’s rand is experiencing its longest winning streak in 13 years. At 07: 05 GMT, the rand traded at 17.97 against the U.S. dollar.

The currency, often viewed as a key indicator of emerging market trends, has gained for nine consecutive days, reaching its highest closing level in five weeks.

This marks its best performance against the dollar among 150 global currencies tracked by Bloomberg.

Investor confidence in South African assets has surged since a pro-business coalition took power two months ago, coinciding with an improvement in the country’s economic data.

Inflation has also been on the decline since February, easing the central bank’s need to maintain high interest rates.

Marek Drimal, a strategist at Societe Generale SA, suggests that the anticipated Federal Reserve rate cuts next month could create an opportunity for South African policymakers to follow suit.

“The one-off move higher in USD/ZAR during the market rout in early August offered investors a very good entry point to buy South African assets,” Drimal told Bloomberg.

The gains extend beyond the currency. South Africa’s government bonds denominated in rand have delivered total returns of 2.7% this month, outpacing the emerging-market benchmark, which has returned 1.5%.

However, the rand’s rally might encounter challenges as traders anticipate rate cuts in South Africa. Forward-rate agreements are pricing in at least a 50-basis-point reduction in rates this year.

“It’s unlikely the rand rally has still legs,” Drimal said.

For the rand to secure long-term, fundamental-driven gains, “delivering reforms aimed at structural improvements of the South Africa economy and growth potential is crucial,” he said.

Source: businessinsiderafrica
Via: norvanreports
Tags: Longest Rally In A Decade Propels South African Rand To World’s Best CurrencySouth African randWorld’s best currency

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

CAF Establishes New Infrastructure Department to Enhance Stadium Development Across Africa

Bibiani Gold Stars Set to Begin GPL Title Defence Against Bechem United as Fixtures for 2025/26 Season Are Released

Gov’t Increases Producer Price of Cocoa to GHS 51,660 per Tonne for 2025/2026 Season

Value of Mobile Money Transactions Hit GHS 323.2bn in June

Trending

Business

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 2025

Africa's Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit South Africa is strategising...

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

August 4, 2025

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

August 4, 2025

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

August 4, 2025

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.