The Rand – Short term gain, long term pain?
The Rand’s resilience has surprised many South African economists and CEO’s, with most having predicted currency depreciation in 2017.
Kyle Sonderup is the head of MyGlobalCFO. MyGlobalCFO assists South African clients with the transfer of their wealth offshore (Services include FX Transfer, Financial Emigration, and Offshore Investment Management). Kyle is a qualified Chartered Financial Analyst (CFA) as well as a Chartered Accountant. He completed a B.com and B.Com Honours at the University of Johannesburg (graduating Cum Laude), and holds a Diploma in Financial Planning from Kaplan Australia. He spent a number of years in Banking and Financial services in South Africa and Australia before launching MyGlobalCFO.
The Rand’s resilience has surprised many South African economists and CEO’s, with most having predicted currency depreciation in 2017.
The Rand closed out 2016 with an impressive rally against major currencies – bringing a smile to the faces of those travelling overseas or moving funds offshore. The question is whether the Rand will continue this positive momentum in 2017.
You wake up to an email from the Department of Immigration with your Australian visa grant. All the hard work has paid off – and you’re finally cleared for emigration. But what about your money?
With the strong rally in the Rand over the past few weeks – we look at the reasons for the gains, and whether we expect this trend to continue.