Taiwanese Invest Over Hundred Billion in South African Currency: 2 Strange Systems Make Taiwan the Largest Overseas Holder of South African Currency
The COVID-19 pandemic has impacted the economies of emerging markets around the world, and in particular, at the end of March, international credit rating agency Moody's downgraded South Africa's debt to junk level, causing investors holding South African currency to probably cry out this year....
According to statistics, since the beginning of this year, the exchange rate of the South African rand to 1 US dollar has fallen from 14, and even reached 19 to 1 US dollar in early April, setting a new historical low and falling by more than 30%.
Taiwan is the largest overseas holder of South African currency
There is no doubt that the South African rand is one of the worst-performing emerging market currencies, replacing Turkey and Argentina as the country most worried about by emerging market investors. However, the South African rand has always been a high-