Back to News |
Ramaphosa effect: Rand could strengthen to R10/USD as it hit golden cross. Biznews.com |
Print |
|
Ramaphosa effect: Rand could
strengthen to R10/USD as it hit golden cross. Biznews.com
Certain
economists predict that the rand can strengthen to R10/USD that would be an
increase of more than 20% which will have an effect accordingly on our offshore
funds, taking in to account that the ZAR is one of the most unpredictable
currencies in the world.
Our
exposure to offshore funds is long term. The rand may increase in value over
the short term or may not increase in value depending on the unpredictable
South African politics. However long
term strengthening of the Rand against the USD is very unlikely. Because President Trump managed to reduce the
tax rate in America from 35% to 22% there is the possibility that the USD will
strengthen. Shares globally to which our offshore funds are exposed, are also
predicted to grow during 2018, hopefully more than the Rand is able to
strengthen.
Friendly
Greetings
Andre
Delport
|