The rand is on the sidelines of forex

Johannesburg - The rand is losing its place in international foreign exchange trading as local political events scare off investors and as the prospect of higher US rates has lead money to move to the US dollar as well as other hard currencies.

The local currency this year dropped to 20th place on the list of the most traded currencies worldwide, while it had been 18th up until 2013 and in 13th place in 2001.

This is the picture that emerges from data from the Bank for International Settlements (BIS).