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South African Rand: Still below Fair-Value, Should Rise in 2017
The South African Rand is looking poised for further gains in 2017 as the latest analysis from one of the world's largest foreign exchange dealers confirms the currency is undervalued and should catch up to its fair value.
Analysts at Deutsche Bank’s argues that after being one of the most vulnerable emerging market currencies to external shocks - such as higher interest rates in the United States - the Rand has become more resilient.
According to analyst Gautam Kalani, the factors contributing to this performance include, “an improving trade balance, some reduction in political uncertainty, avoidance of a ratings downgrade in December and most importantly a pick-up in activity”.
“The recent data suggest that we could be at the start of an economic turnaround. As such we expect this resilience to continue and remain bullish on ZAR,” says Kalani.
Source: PoundSterling Live