Rand Goes From Dizzy Heights to Year Lows as Sentiment Sours
- South African currency breached 16 this week in risk-off trade
- Nation’s stocks and bonds worse hit than peers in selloff
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South African assets have turned from market darlings to duds.
The rand, bonds and stocks had a flying start to the year, benefitting as a relative haven among emerging markets and from a rise in commodity prices spurred by Russia’s invasion of Ukraine.