Alan Peat SA EXPORTERS are not the only ones in the world suffering from the brakes of a strong currency. “While SA exporters watch in disgust as the rand remains strong,” said Standard Bank economist Monica Ambrosi, “it might ease their burden to know they are not alone but in good company with exporters the world over.” Among the “losers”, Ambrosi cites the Australians, New Zealanders, Brazilians, Canadians, Argentinians, Chileans, Swedes and the Europeans (euro region). “Exporters from all these corners of the world have seen their countries’ currencies appreciate by over 10% against the dollar this year,” she added. “While this lends little comfort to the profit bottom line, it does mean that our exporters’ losses are not absolute but relative.” A further positive to be gained by SA’s position among the 10 best performing currencies against the USD, Ambrosi told FTW, is that we are not languishing in the company of the worst performers. “These,” she said, “include Zimbabwe, Egypt, Nigeria, Venezuela, Mexico, Uruguay and the Philippines.”
