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Perception of weakness

20 July 2006 Angelo Coppola

The rand is currently at R7.05 (20.7) to the dollar, it was R8.25 in 2001, in 2003 it was R7.64, in 2004 it was at R5.94. It has broken its bull trend.

Paul Hansen at Stanlib, says that the perceptions that the rand is weak are inaccurate.

According to Hansen, their chartists maintain that it will meander between 6.65 and 7.25, and there is the implication that the currency will weaken.

A fair value for the rand, says Wayne McCurrie at Advantage Asset Managers, is between R7.00 and R8.00, on a two-year view.

While volatility will always occur into the future, continued and sustained Rand strength is not likely. McCurrie says they did not give up the faith, the Rand has weakened.

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