Rand steady ahead of US Presidential election

Chief economist at Econometrix, Azar Jammine, said foreigners are interested in the high yield of our local currency rather than the recent political developments.

Jammine said while it was difficult to be dogmatic in light of the volatility as American's take to the polls, the rand is looking good.

There has been a big jump of nearly a billion dollars in the value of our reserves."

Azar Jammine, chief economist, Econometrix

If Trump wins, it's regarded as negative for the US and global economic growth. The rand is also gaining ground after the FBI said it will not be pursuing the Clinton email scandal. The general sentiment around the Trump victory is negative.

Azar Jammine, chief economist, Econometrix

Jammine spoke to Ray White (standing in for Stephen Grootes) about the volatile situation as Americans prepare to go to the polls. Listen here:

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