Despite ongoing political speculation, the rand has remained firm in February, as investors have continued to bet on the ANC’s ability to unseat President Jacob Zuma and thus have placed much needed faith in the country.
As we reach the end of the 2017 fiscal year, the markets have favoured South Africa and seemingly its political processes. According to reporting done by Reuters, all of this lends to the idea that South Africans will have a good start to the 2018 year.
Although global oil prices rose by 1 US dollar on Monday, this month has seen a local decrease in all petrol categories across the board by as much as 30 cents.
The global decrease had much to do with the steep losses experienced by the Asian share markets, as they managed to find an inkling of calm on Monday morning. However, looming US inflation data has investors keeping a weather eye open for similar results across the Pacific.