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The rand is in uncharted territory – TreasuryOne's Andre Cilliers on the rand's recent shock

In this week’s currency focus, TreasuryOne’s Andre Cilliers talks us through the reasons for the weakness in the rand, despite the South African Reserve Bank increasing interest rates by 0.25% at last week’s Monetary Policy Committee meeting. Cilliers unpacks the drastic weakening of the rand despite the South African Reserve Bank hiking interest rates. According to Cilliers, SARB Governor Lesetja Kganyako’s approach to monetary policy and the fight against inflation have contributed to the rand’s recent weakening. On the flip side, a positive effect on the rand can be expected if the Federal Reserve Bank puts a lid on the raising of interest rates.

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