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PUBLISHER: Freight News (www.freightnews.co.za)

Military advances and economic sanctions during the ongoing war in Ukraine are key factors that will impact the volatility of the rand in coming months, economists have warned.

PwC’s South Africa Economic Outlook Updated Macro Scenarios for 2022-2023, released on Thursday, highlighted three possible scenarios for the direction of the rand/US dollar exchange rate.

The report noted that the rand had traded broadly stronger during the first quarter of 2022, appreciating from R16.00/$ at the start of the year to R14.40/$ at the end of March.

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