“The Rand pushed to fresh 14-year lows against the dollar on Friday, and was at its weakest ever against the pound…”. (www.fin24.com)
In real terms the Rand is:
- 22% weaker than the US$ at the same time last year
- 14% weaker than the Pound at the same time last year
- 10% weaker than the Euro compared to where the summer season tapered in March/April this year
The industry expects some inflationary increases going into the South African summer season, but they will be marginal in comparison to the deflation in the currency.
We look forward to a cracker of a season with the lower Rand in play!!
Feel free to call us for any more info.
Martin and Carmen