Currency Note Worldwide

South African rand rebounds

By Ricky Bean December 17th, 2015

The focus of the week being on the US Federal Open Market Committee’s policy review on Wednesday is still hanging over the markets. This has been one of the most anticipated Federal Reserve meetings in recent history. However the Bloomberg Dollar Spot Index, a gauge of the US currency against 10 major peers was little changed after a four-day advance; so far this year it has risen 8%.

Elsewhere, the commodity plunge is still negatively affecting prices for commodity-dependent countries. However the rand has rebounded after the most recent new Finance Minister has been put in place, gaining 5.2% against the US dollar, 5.5% on the Euro and 5.7% on sterling.

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