Johannesburg – The rand is the 20th most traded currency, making up 1% of the world’s daily currency trading, according to a survey by the Bank for International Settlements (BIS).
The survey is conducted every three years, which looks at the size and structure of the global foreign exchange market. The survey is based on data obtained from 53 central banks, and about 1 300 banks and other foreign exchange dealers, explained Kevin Lings, chief economist at Stanlib.
South Africa slipped two places from 18th position in 2013. South Africa’s highest ranking was 10th in 1998. It dropped to 13th position in 2001. The last time it ranked 20th was in 2010.