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Market participants had largely normalised the exceptional distortions that have characterised financial markets since the Global Financial Crisis (GFC).
If the rand/dollar exchange rate reflects the outlook for South Africa, then we can take heart that it has held firm around R18.30/dollar since the national elections in May and dipped below R18/dollar for the first time in more than a year in August 2024.
The strongest deterrent against FSP compliance missteps is or should be: