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THE SMART NEWS SOURCE | Feb 11 2012 02:43 | LAST UPDATED Feb 11 2012 02:43 |
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South Africa is looking at the impact of the carry trade on its rand currency and is weighing its options to curb currency volatility, the country's finance minister said on Thursday. "We are ... looking at the impact of the carry trade more carefully and the options we have to assist the currency have less volatility," Pravin Gordhan told a business presentation at Bloomberg. "All exporting currencies want a competitive edge as far as exchange rates are concerned," he added. The exchange-rate appreciation seen in emerging economies such as South Africa has been attributed to carry trades -- borrowing in currencies with the lowest interest rates to punt the proceeds on higher-yielding ones. The rand is trading at one-month highs against the dollar, having risen 25% against the dollar over the last 12 months. -- Reuters  CONTINUES BELOW TOPICS IN THIS ARTICLE
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