Compared with the previous month, the rand weakened in February 2023 against nearly all of the major developed market and developing market currencies. The unweighted average change in the value of the rand amounted to -2.7%. Month-on-month, the rand depreciated most against the Swiss franc (-4.3%); Australian dollar (-3.9%) and Canadian dollar (-3.5%). The rand also depreciated against the euro (-3.3%), US dollar (-3.2%), British pound (-3%) and Chinese yuan (-2.5%). However, the rand was stable against the yen.
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