Compared with the previous month, the rand strengthened in July 2020 against most developed market and developing market currencies. The unweighted average change in the value of the rand amounted to 0.8%. Month-on-month, the rand appreciated by 2.1% against the US dollar, by 1% against the British pound, by 1.3% against the Japanese yen, and by 0.3% against the euro. The rand gained 0.2% against the Swiss franc. The rand also strengthened by 1.7% against the Chinese yuan, but was much weaker against the Brazilian real (-21%). The rand depreciated by 0.2% against the NZ dollar but strengthened slightly by 0.2% against the Australian dollar.
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