29 Sep 2011FINANCE Minister Pravin Gordhan yesterday admitted the rand would remain vulnerable and that SA had no tools to control its wild swings amid global economic uncertainty and the debt crisis .
The rand has lost more than 20% of its value against the dollar so far this month as investors fearful of Europe’s sovereign debt crisis rid themselves of emerging market assets.
It has since bounced back to about R7,80/$ after hitting a 28- month low of R8,49/$ last Thursday. The rand remains a highly liquid currency, vulnerable to swings in portfolio flows.
http://www.businessday.co.za/articles/Content.aspx?id=154608
