WATCH: Rand's 2016 roller-coaster in under 90 secs

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Money. (Duncan Alfreds, News24)
Money. (Duncan Alfreds, News24)

Cape Town - The rand is one of the most volatile currencies in the world, reacting sharply either way to especially local political developments and global events.

Just over a year ago, the local unit took a hit with the surprise axing of then Finance Minister Nhlanhla Nene, and since then currency investors experienced a rough ride with a myriad of factors, including international events, local political noise and macro-economic factors moving the rand.

The rand however remained resilient against the US dollar, and by 07:02 on Friday, the unit was trading at R14/$. This compares with R15.41 on that fatal December 9 when Nene was replaced by little known ANC MP David (Des) van Rooyen and R18 on January 12 this year when it suffered a flash crash amid an emerging market currency sell-off due to fears over the state of the Chinese economy.

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Rand - Dollar
13.98
+0.8%
Rand - Pound
19.84
+0.5%
Rand - Euro
17.10
+0.2%
Rand - Aus dollar
10.91
+0.4%
Rand - Yen
0.13
+0.5%
Gold
1,869.69
+0.2%
Silver
28.25
+0.2%
Palladium
2,907.00
+0.2%
Platinum
1,224.41
-1.6%
Brent Crude
69.46
+1.1%
Top 40
61,190
-0.0%
All Share
67,255
+0.1%
Resource 10
70,784
+0.2%
Industrial 25
83,774
-0.3%
Financial 15
12,689
+0.6%
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