South African Rand Will Top EM Currencies Next Year, SocGen Says
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South Africa’s rand will outperform emerging-market currencies in the coming year, supported by higher interest rates and China’s infrastructure stimulus, according to Societe Generale SA strategists.
They’re predicting a 3.5% gain by year-end, compared with an average 2.5% losses on average for other emerging-market currencies. Among 19 other peers, the rand is the only one that SocGen lists its outlook as “slightly bullish,” according to a note on Monday by strategists, including Phoenix Kalen and Marek Drimal.