Analyst foresees weaker rand in near future
An investment analyst says we can expect a relatively weak rand in the foreseeable future.
Speaking at an Absa post-budget event in Durban yesterday, Christopher Gilmour said one of the problems for the rand is that it is lumped with other currencies from emerging markets. Gilmour says emerging markets have had a tough time in recent years because of the global financial crisis.
"Investors like staying away from emerging markets in general so I think the likelihood is that the currency is going to languish," he said.
"The chances of a variety of positive factors moving the rand significantly stronger from here are relatively remote in this point in time," Gilmour said.