Selling Rand for Ruble Is Hot Trade as Political Risks Part

Updated on
  • Politics battering South Africa’s rand while ruble steadies
  • Citigroup, Societe Generale among firms recommending trade
Photographer: Waldo Swiegers/Bloomberg

Selling South Africa’s rand against Russia’s ruble is becoming one of the trendiest currency trades, with Citigroup Inc., Toronto Dominion Bank and Societe Generale SA among securities firms recommending short rand-ruble positions as political risk surged in one country and diminished in the other.

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