South Africa’s rand is the world’s best performing – and best looking – currency

May 25th, 2009 by Adamu
Adamu

This was some interesting news (via Bloomberg):

South Africa’s rand, the world’s best-performing major currency this year, may rally another 4 percent if it breaks through 8.23 per dollar and stays there, based on technical analysis by Barclays Plc-owned Absa Capital.

Candlestick charting shows the rand closed stronger than its opening levels everyday last week, suggesting it’s “fighting” to appreciate further, said Judy Padayachee, a technical analyst at Johannesburg-based Absa. Even so, it has yet to remain stronger than the so-called “resistance” level of 8.23 per dollar, according to Padayachee.


Good for them. But thanks to this news I was pleasantly surprised at how awesome the rand looks. Buffalo power!

rand

The notes were redesigned after the end of apartheid in 1994. Here is what the old notes looked like:

old-rand

You can find out more about South Africa’s currency (with similarly intense drawings of lions and rhinos) here.

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