After posting one of the strongest rallies in emerging markets this year, South Africa’s rand is headed for a 12 percent drop in 2017, according to analysts polled by Bloomberg. Deutsche Bank AG says they’ve got it wrong.
The fourth-biggest foreign-exchange trader is shrugging off political uncertainty that’s slowed the currency’s advance in 2016, predicting a gain of about 7 percent to 12.50 per dollar next year. Here’s why:
