
The rand’s long-term outlook may be changing
Improving domestic fundamentals, a potentially weaker US dollar, and lower inflation could mean the rand depreciates more slowly than investors have come to expect.

Improving domestic fundamentals, a potentially weaker US dollar, and lower inflation could mean the rand depreciates more slowly than investors have come to expect.

Fitch’s first upgrade in 21 years caps a remarkable turnaround, but hidden liabilities, weak growth, and structural problems stand between the country and investment-grade status.

A tighter, more disciplined Budget channels spending into social support and infrastructure while cutting waste to avoid tax hikes.

The rating upgrade is likely to have profound implications for investment portfolios.