Compared with the previous month, the rand was stronger against most of the major developed market and developing market currencies in July 2023. The unweighted average change in the value of the rand amounted to 5.8%. Month-on-month, the rand appreciated most against the Russian rouble (17.6%); Japanese yen (7.6%); Indian rupee (5.7%); US dollar (7.4%); and Chinese yuan (7.4%). The rand also gained against the British pound (4.8%) and euro (5.9%), and was slightly stronger against the Swiss franc (0.9%).
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