Compared with the previous month, the rand strengthened in January 2023 against most of the major developed market and developing market currencies. The unweighted average change in the value of the rand amounted to 1.3%. Month-on-month, the rand appreciated most against the Russian rouble (11.9%); US dollar (1.9%); British pound (1.6%); and NZ dollar (1.2%). The rand depreciated against the Japanese yen (-2.1%) and Chinese yuan (-0.9%).
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