After the rand had depreciated by as much as 23.5 per cent in nominal terms between 14 February 1996 and the end of October 1996, it appreciated by 10 per cent over the next five months.
It has won widespread acceptance from business, organisations, political players and the media. At the beginning of the 1980s, the Danish economy was caught in a vicious circle with high inflation, frequent devaluations and long-term interest rates at around twenty per cent.