n Professional Accountant - Economic outlook for 2009

Volume 2007 Number 1
  • ISSN : 1680-7537


2009 is likely to be another tough year for the Rand. The current account deficit problem remains and funding is becoming increasingly difficult. We look for USD / ZAR10.50 at the end of the year, but with volatile trade between 9.00 and 12.00. Immediate pressure is to the downside of this range but, looking further out, risks remain heavily biased to the upside, with moves possibly triggered by emerging market contagion. This is according to the Rand Merchant Banks Financial Markets Research Division whose findings are summarised below.

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