06 Jan 2012Johannesburg - The rand is expected to firm more than 3% to R7.825/$ in twelve months, a Reuters poll showed, but that is dependent on a solution to Europe's debt crisis and a pickup in global growth this year.
The rand was one of the world's worst performing currencies last year, losing roughly 22% against the dollar as investors spooked by a spiralling crisis in Europe pulled out of riskier emerging markets.
The survey of 34 foreign exchange analysts and economists forecast the rand would weaken against the dollar to R8.335 in 3 months from roughly R8.18 on Thursday, recover to R8.215 in 6 months and climb back to R7.825 in a year.
http://www.fin24.com/Markets/Currencies/Rand-seen-below-R8-this-year-20120106
