June 24th, 2016 | By: Matthew Davies
The most internationally traded African currency, the South African rand, is already having a bumpy ride in the wake of the UK’s decision to leave the European Union.
Measures of implied volatility for emerging markets, which are gauges of how currencies are expected to swing, are breaking recent records.
For its part, the rand has lost more than 8% against the US dollar, although it has gained against the tumbling pound.
That is not good news for a currency that has already lost 21% against the dollar so far this year.
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