Rand roaring back

The South Aftican Rand (ZAR) has recovered form it worst levels in the last few days and is Currently Trading at 7.79 to the US Dollar.

The rand is taking leads from  the euro which has recovered quite a bit. The market has also been a bit short and we’ve seen some export selling which have also helped to strengthen  the rand,” a currency trader said.

Although stronger the Rand will still be a highly volatile currency in the near future