Despite a slew of negative news flow out of South Africa on both economic and political level, the Rand has performed admirably in the first month of 2019, strengthening against all of its major counterparts.
The US dollar and the Euro have tracked each other quite closely but the Pound Sterling has strengthened as the market attempts to digest the latest develops around Brexit.
The chart below maps the currency over the last 30 days against the US dollar, Euro, Pound and Aussie Dollar.
According to the forecasts prepared by Trading Economics, the Rand is expected to trade at R14.70 by the end of the first quarter of 2019.
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