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Who's really afraid of the big bad rand?
(From Business Day (South Africa))
Byline: KEVIN O'GRADY
Who's really afraid of the big bad rand? ECONOMICS EDITOR WHERE is the hue and cry that usually accompanies a surge in the value of the rand? Are we, a nation only marginally less obsessed with our currency's value than we are with crime and the personal hygiene habits of a certain former deputy president, coming to terms with the fact that a strong currency is not such a bad thing after all? As the currency breached the R6 to the US dollar mark this week, trading as high as R5,95 on Wednesday, the only word from the usually implacable gold-mining sector was that its future is considerably brighter than it was a year ago (when, ironically, the rand was much weaker than it is now).
The tourism industry, …
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