2016 | OriginalPaper | Chapter
Speculative Capital Flows, Exchange Rate Volatility and Monetary Policy: South African Experience
Author : Shakill Hassan
Published in: Contemporary Issues in Development Economics
Publisher: Palgrave Macmillan UK
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The South African currency (the rand) is volatile. The first chart in Figure 9.1 shows the three-month historical volatility (standard deviation, annualized) of the rand per dollar exchange rate since 1993. From the early 2000s, rand volatility consistently exceeds that of the Mexican and South Korean currencies, and moves very closely with that of the Brazilian and Turkish currencies.