The Emerging World's Most Unruly Currency Has Taken a Chill Pill
Photographer: Waldo Swiegers/Bloomberg
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The unruly child of emerging markets is calming down, thanks to Cyril Ramaphosa.
Expected price swings in South Africa’s rand have dropped by the most among global peers this year, according to data compiled by Bloomberg. The currency’s one-month implied volatility versus the dollar is now at the lowest level since December 2014.