TreasuryOne's Andre Cilliers on the Turkish Lira plaguing the Rand

TreasuryOne’s Andre Cilliers leads this week’s currency focus with the ever-volatile rand remaining firm against all the major currencies. Central banks around the world are slowly starting to put a lid on the extremely accommodative monetary policy stance that has seen economies recover much faster than expected. These policy decisions – not only by the South African Reserve Bank but other central banks, too – will be critical in determining the direction in which the rand will head. Cilliers notes that the basket of emerging currencies as a whole are somewhat dependent on each other; the rand has been flavoured with Turkish delight as it cut its interest rate for the second straight meeting.