Rand broke below R18/$ barrier as President Ramaphosa inaugurated for a 2nd term

First Take SA

Economists have noted that the South African rand broke below the R18/$ barrier for the first time in 11 months as the country's president-elect, Cyril Ramaphosa was inaugurated for a second term yesterday. Since June 6, the currency has shown significant improvement, reflecting optimism about the newly formed Government of National Unity (GNU) bringing stability and economic reforms. JPMorgan has double upgraded South African assets, viewing the GNU as the best possible outcome for the country's economy post-election. However, they cautioned about the risks due to the lack of a Cabinet and the fact that the GNU structure has not been tested in nearly 30 years. for more on this Elvis Presslin spoke to Waldo Krugell Professor of Economics at the Northwest University