Rand will continue to fluctuate

- Manuel ED RICHARDSON A “FAIR price” for the rand is “one that just traded,” says finance minister Trevor Manuel. Speaking on “Economic prospects in a strong rand environment” at the Wits student business society recently, Manuel said the fair price was “the one you just heard on the news, the one just agreed to between a willing buyer and a willing seller. “With over R10 billion traded every day, South Africa remains a price taker, unable to alter the value of the currency for long, without causing other economic difficulties.” Manuel said the rand would continue to fluctuate from its “equilibrium value” as the value is driven by market information, rumours and speculation.