[miningmx.com] – THE South African rand is still too expensive and must fall 10% in order to make the country’s economy competitive, said Bloomberg News citing comments by analysts.
The Turkish lira is 12% overvalued and the rand is 10% too expensive, according to a UBS AG gauge that assesses 22 exchange rates in relation to their trade balances, said Bloomberg News.
“The rand and lira are still expensive,’ Shewta Singh, an emerging-market economist at Lombard Street Research, said. “The currencies are not appealing relative to the risks.’
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