Rand Ousts Lira as Wild Child of Emerging-Market Currencies
- Currency’s swings have been widest among peers in past week
- More volatility in store as liquidity dries up: FirstRand Bank
Photographer: Nadine Hutton/Bloomberg
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The South African rand is reasserting itself as the wild child of emerging markets.
The currency’s price swings have been the widest among 24 of its peers in the past week as risk assets have been rocked by everything from concern over the U.S.-China trade dispute to Britain’s Brexit confusion. In that time, the rand has shed 3.5 percent against the dollar.