Compared with the previous month, the rand (ZAR) had a mixed performance against most developed and emerging market currencies in June. The unweighted decrease in the rand against 12 currencies amounted to –0.0% m/m. Measured on a year ago, the unweighted average change in the value of the rand amounted to +4.6%. On a month-on-month basis, the rand gained most against the Russian rouble (5.4% m/m), and lost most against the British pound (-3.1% m/m).
The rand was most undervalued against the GBP (14.4%) during the three months ended May 2015, while it was overvalued against the yen (11%). Against the USD, the rand was undervalued to the tune of 13.5%, while it was overvalued against the euro (5.4%).