Compared with the previous month, the rand weakened slightly in October 2022 against most of the major developed market and developing market currencies. The unweighted average change in the value of the rand amounted to -1%. Month-on-month, the rand appreciated most against the Australian dollar (1.9%), NZ dollar (2%), and Canadian dollar (0.1%). However, the rand weakened further against the US dollar (-3.4%), British pound and euro (-2.3%), Brazilian real (-3.2%), and Russian rouble (-1.9%).
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