Publications
Partners
Johannesburg - RMB analysts do not think the 2010 FIFA World Cup will have much implication on the rand.
The group's forex analysts noted that an estimated R8.5bn in tourist inflows is nothing to be sneezed at - but this is "certainly not a game changer."
"South Africa is receiving extra publicity - our flag is on the front of almost every global weekly news magazine and we're headline TV news on all the channels. Traders could easily get swept up in the excitement but what we're talking about is a few cents here and there, rather than substantial gains," they noted.
Any positives will be constrained by the fact that the rand is already looking overly strong versus its peers, notably the Australian dollar.
"And in the excitement don't forget the concerns - a bad crime incident that could dent our image, and the threatened public service strike," they concluded.
- I-Net Bridge
