New rand index to track volatility
2 November 2010 The Rand Index (RAIN) can be used to track the rand’s strength against the euro, US dollar, Chinese yuan, UK pound and Japanese yen. Sapa “The rand’s been under the spotlight in recent weeks due to its strength, with much debate around whether to intervene or not,” the JSE’s Allan Thomson said in a statement on Monday. The JSE has launched the Rand Index, a new measure of rand volatility against the currencies of South Africa’s top five international trading partners. “We believe the index will be particularly useful to those users wanting to measure the competitiveness of South African goods in international import and export markets.” “The RAIN … provides a much-needed public benchmarking tool,” Thomson said, adding that it should help to determine whether the rand is over- or under-valued.