Kganyago links rand resilience to mistrust in US dollar assets

4 articles · Updated · Bloomberg · May 5

Speaking in South Africa's Eastern Cape on Monday evening, the central bank governor said the rand and other emerging-market currencies had stayed surprisingly resilient during the Iran war.
He said investors were not abandoning the dollar, but increasingly wanted to avoid being overly concentrated in US assets by diversifying portfolios.
The remarks suggest geopolitical turmoil has not automatically driven investors into the dollar, and may instead be reinforcing broader doubts about the currency's dominance.

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