File: South African Rands. GettyImages/RapidEye
JOHANNESBURG - The South African rand has staged a strong rebound after a period of sharp losses, highlighting just how volatile the currency remains.
The swing follows a sudden shift in global sentiment, with easing geopolitical tensions boosting investors' appetite for riskier emerging-market assets.
The rand had come under pressure amid fears of rising oil prices and global inflation, but quickly recovered as those concerns subsided.
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Analysts said the currency remains highly sensitive to global events, with movements in the dollar, commodities and geopolitical risks continuing to drive sharp fluctuations.
While the rebound offers relief, economists warn that uncertainty in global markets could keep the rand on a volatile path.
Meanwhile, the JSE is up by over 5 percent.