What Volatility? Rand's Eerie Calm Belies Political Storm Ahead
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The world’s most volatile currency has been rather well-behaved lately, considering the enormous risks lurking around the corner.
South Africa’s rand has traded in a tight range in the run-up to the ruling African National Congress elective conference, set to start at the weekend. Historical volatility has dropped below the one-year average, and the currency is up 0.8 percent against the dollar this month, adding to November’s 3.1 percent gain.