South African Rand Heads for Best Yearly Start Since 2008: Chart

The rand’s 1.4 percent rally against the dollar on Thursday put the currency on course for its best start to a year since 2008. Analysts are turning bullish on the currency because of improvements in the country’s external balance, economic growth, inflation and productivity. The rand, which is also gaining against the euro and British pound, this week surrendered its position as the world’s most volatile currency to Turkey’s lira.

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