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Assessing and promoting civil and minority rights in South Africa.

[Source: MSN by Vuyani Ndaba.]

South Africa’s rand is expected to erase around a third of the 10 percent gains made in the past two months in the run-up to May elections as strong volatility rattles the currency, a Reuters poll found on Thursday. The median forecast of over 30 currency strategists polled Nov. 30-Dec. 5 suggested the rand will have fallen about 3 percent in six months to 14.33 against the dollar, better than the 14.67 expected last month.

Strategists were almost evenly split whether the rand will be closer to their fair value estimates this time next year, with most suggesting the rand is correctly trading firmer than 14/dollar currently.

The currency has made over 10 percent gains in the last two months due to better sentiment for emerging markets. That pinned hopes last month the currency had room to gain by a further two percent by this time next year.

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South Africa at a Glance
57 700 000 (mid 2018 estimate)
5.1% y/y in October 2018 (CPI) & +6.9 y/y in October 2018 (PPI)
2.2% q/q (3rd quarter of 2018)
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