The domestic currency gained some momentum earlier this week, buoyed by positive news from President Ramaphosa that China has committed $14.7bn worth of funds for investment in South Africa. The rand maintained this appreciated stance as the week progressed on the back of a weaker greenback, and has been one of the best performers among a basket of 24 emerging market currencies over the past five days.

In the week ahead, the rand is expected to trade in a range of R12.90 /USD – R13.50/USD, R15.10/EUR - R15.70/EUR and R17.05/GBP - R17.65/GBP.