South African Rand Trading Jumps 20% to $13.7 Billion as Iran War Volatility Spikes
Updated
Updated · Bloomberg · Jun 30
South African Rand Trading Jumps 20% to $13.7 Billion as Iran War Volatility Spikes
1 articles · Updated · Bloomberg · Jun 30
Summary
$13.7 billion in average daily rand transactions was recorded in the first quarter, up from $11.4 billion in the previous three months, the South African Reserve Bank said.
The central bank attributed the surge to volatility tied to the Iran war, which lifted trading activity in the rand.
$5.3 billion in third-currency transactions was also reported, rising from $4.6 billion and underscoring broader foreign-exchange market churn around the rand.