Economist: Rand falling behind peer currencies
An economist feels international factors have not been working in the Rand's favour in recent weeks.
The Efficient Group's Dawie Roodt says South Africans will continue to pay the price if the Rand does not perform as well as its peer currencies. Roodt has been giving commentary on mid-month fuel price predictions.
He says the petrol price could go up by at least 30 cents a litre if they Rand does not improve. June's petrol price rocketed by 82 cents at the beginning of the month.
"One of the fundamental reasons the Rand has been under so much pressure lately has to do with the fact that the American Dollar has been going up", he said.
"The US Dollar has been appreciating against other currencies simply because Americans recently started increasing interest rates. So as long as the Americans keep increasing interest rates - which they will likely do - the Rand is likely to remain under pressure", Roodt said.