Compared with the previous month, the rand strengthened in May 2020 against most major emerging market and developed market currencies. The unweighted average change in the value of the rand amounted to 8%. Month-on-month, the rand appreciated by 4.5% against the US dollar, by 5% against the British pound, by 4.2% against the Japanese yen, and by 2% against the euro. The rand gained 8.7% against the Swiss franc. The rand strengthened considerably, by 47.9% against the Brazilian real after its 28% decline in April. The rand appreciated by 11.5% against the Indian rupee and by 5.3% against the Chinese yuan.
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