This is in line with a weaker performance of most currencies against the dollar in the first half of the year. The general weakness of currencies against the US dollar is demonstrated by comparable depreciations of almost 8,7 per cent for the euro, 5,7 per cent for pound sterling and 8,6 per cent for the Australian dollar.
On a trade-weighted basis, the rand is weaker by 3,6 per cent since the beginning of the year. A factor which has recently cast a shadow over the rand has been a general increase in risk-aversion by international investors.