Not looking good for the South African Rand, recently just decline by 3.2% affecting the country's wealth creation sectors. It just passed R15.05 and it's not looking good for RSA, it was estimated that it will take at least 15 months for the economy to recover and come to its stable performance.
So the question is "is it going for R15.70 and possibly South Africa facing recession?"
Well the chart above might seem like crap but this is solely focused on the fundamentals of ZAR. If we discuss worst case scenario about this pair is when it actually breaks R15.70 and even possibly going for R16.00, so it's truly a waiting game and hoping the South African government will take action and start listening to the right department.
So the question is "is it going for R15.70 and possibly South Africa facing recession?"
Well the chart above might seem like crap but this is solely focused on the fundamentals of ZAR. If we discuss worst case scenario about this pair is when it actually breaks R15.70 and even possibly going for R16.00, so it's truly a waiting game and hoping the South African government will take action and start listening to the right department.