In May 2016, the rand (ZAR) gave back most of its gains during March and April against the major developed and emerging market currencies. The unweighted change in the rand against 12 currencies amounted to -7.1% m/m. On a month-on-month basis, the rand lost against the British pound (-9.6%), the US dollar (-9.5%), the euro and the New Zealand dollar (-6.8%). The rand also lost against emerging market currencies such as the Chinese yuan (-7.9%), the Indian rupee (-8.4%) and the Russian rouble (-7.9%).
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