New tool to measure rand

2010-11-01 10:09

The JSE today launched an index to measure rand volatility against the currencies of South Africa’s top five major international trading partners, the bourse said.

The Rand Index can be used to track the rand’s strength against the euro, US dollar, Chinese yuan, UK pound and Japanese yen.

“The rand’s been under the spotlight in recent weeks due to its strength, with much debate around whether to intervene or not.

“The index provides a much-needed public benchmarking tool,” Allan Thomson of the JSE said.

“We believe the index will be particularly useful to those users wanting to measure the competitiveness of South African goods in international import and export markets.”

It should help determine whether the rand is over- or under-valued.?

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