{"id":796476,"date":"2024-10-21T15:56:00","date_gmt":"2024-10-21T13:56:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=796476"},"modified":"2024-10-21T16:24:44","modified_gmt":"2024-10-21T14:24:44","slug":"rand-set-to-drop-below-r17-to-the-dollar-in-2025","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/796476\/rand-set-to-drop-below-r17-to-the-dollar-in-2025\/","title":{"rendered":"Rand set to drop below R17 to the dollar in 2025"},"content":{"rendered":"\n<p>The outlook is mixed for major African currencies going into the next year, with South Africa\u2019s rand set to outperform and Nigeria\u2019s naira facing more pain before things get better, according to Ebury Partners Ltd.<\/p>\n\n\n\n<p>Four of the seven African currencies monitored by Ebury are seen holding their ground or gaining in 2025, with the other three extending losses, the London-based firm said in a report. <\/p>\n\n\n\n<p>The analysis is based on the economic fundamentals of each country and the outlook for commodity prices.<\/p>\n\n\n\n<p>\u201cThe wide-ranging idiosyncrasies inherent in Africa ensure that we hold a rather diverse view on the currencies,\u201d said Matthew Ryan, head of market strategy at Ebury, in the report. <\/p>\n\n\n\n<p>\u201cThe strength of macroeconomic fundamentals are disproportionately important for the region\u2019s currencies. Commodity prices are also an important determinant.\u201d<\/p>\n\n\n\n<p>&#8220;Ebury has penciled in losses for the Angolan kwanza, Ghanaian cedi and Nigerian naira in 2025.&#8221;<\/p>\n\n\n\n<p>The rand is seen extending this year\u2019s rally, while the Kenyan shilling, Ugandan shilling and Zambian kwacha \u201care well placed to hold their own,\u201d Ryan said.<\/p>\n\n\n\n<p>Ebury\u2019s views:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>South Africa\u2019s rand is forecast to gain 5% to 16.75 per dollar.<\/strong><\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Angola\u2019s kwanza could weaken to 1,000 per dollar by end-2025, implying a decline of about 8%, according to Bloomberg calculations.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ghana\u2019s cedi will probably fall to 19 per dollar, a decline of about 16%.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Nigeria\u2019s naira is seen weakening about 2.4% to 1,700 per dollar.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Kenya\u2019s shilling and Zambia\u2019s kwacha are seen trading sideways.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/image-69.png\"><img loading=\"lazy\" decoding=\"async\" width=\"814\" height=\"410\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/image-69.png\" alt=\"\" class=\"wp-image-796477\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/image-69.png 814w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/image-69-300x151.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/image-69-768x387.png 768w\" sizes=\"auto, (max-width: 814px) 100vw, 814px\" \/><\/a><\/figure><\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/businesstech.co.za\/news\/lifestyle\/795274\/7-countries-you-can-travel-to-where-the-rand-is-stronger-in-2024\/\">7 countries you can travel to where the rand is stronger in 2024<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rand is expected to gain against the US dollar, dropping below the R17\/$ mark in 2025. <\/p>\n","protected":false},"author":59,"featured_media":750456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[1850,26],"class_list":["post-796476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-bloomberg","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/796476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=796476"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/796476\/revisions"}],"predecessor-version":[{"id":796482,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/796476\/revisions\/796482"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/750456"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=796476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=796476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=796476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}