Central Bank Governor Lesetja Kganyago said this past weekend that a further fall in the value of the rand is not necessarily a bad thing.
Kganyago believes the currency should be allowed to play its role as a shock absorber.
The Money Show’s Bruce Whitfield interviewed John Cairns, Currency Strategist at Rand Merchant Bank, about the weakening rand.
Scroll down to read some quotes from the audio below.
What’s driving the rand weaker is not South African fundamentals, but rather global factors.— John Cairns
You can’t rule out R15 to the dollar.— John Cairns
We’ve been losing 10 cents per day against the dollar in the last two weeks.— John Cairns
If the Fed hikes interest rates it will hit the rand hard.— John Cairns
The rand is actually strengthening against a number of currencies such as those of Australia, Brazil and Turkey.— John Cairns
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