Compared with the previous month, the rand weakened in February 2020 against nearly all emerging market and developed market currencies. The unweighted average change in the value of the rand amounted to -2.2%. Month-on-month, the rand depreciated by 3.7% against the US dollar, by 3.6% against the Swiss franc, by 3.4% against the British pound, by 3.2% against the Japanese yen, and by 2.5% against the euro. The rand’s losses were slightly less pronounced against the and Australian dollar (-1.2%) and New Zealand dollar (-0.7%). The rand did show a gain of 0.9% against the Brazilian real, but declined by 2.6% against the Chinese yuan.
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