News & Press: IoDSA in the Press

Rand's Decoupling from Emerging Market indes a worrying sign

Thursday, 25 October 2012  
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Since the dawn of democracy, the South African currency's value has correlated with the emerging market index, the result of its status the currency of reference across emerging markets.

"It seems now like the market is starting to think that South Africa's internal challenges are compromising the rand's role as the 'dollar of emerging markets'," says Peter Armitage, CEO of Anchor Capital. Armitage was updating members of the Institute of Directors in Southern Africa (IoDSA) on the country's economic outlook. "South Africa is suffering a crisis of confidence."
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