Podcast | SA FIC: Rand not cheap enough; maintain a weak bias

The rand may be much weaker now than a month ago, but it may not be cheap enough. At 14,50, we were better buyers of USD and although the rand has moved a lot in the past month, its weakness can extend much further. It’s too soon to get bullish on the rand. As a result, even though it is trading above our fair-value range, cyclically, we prefer to maintain a weakening bias.