The South African rand has sold-off sharply in the past few days, but we think a combination of domestic political unrest, a challenging external environment, and a widening current account deficit could lead to further losses in the coming months. Indeed, despite already being significantly below-consensus, we have revised down our forecasts for the currency for end-2012 and end-2013.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.