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Cost of ZAR Shorts Rises as Basis Swaps Breach 100 Level

SOUTH AFRICA
  • SA 1Y Basis swaps return to Jan-Feb levels above the 100 handle, making funding ZAR shorts more expensive as USD/ZAR moves below 14.00.
  • Basis swaps have moved 87.58% higher since the march 16 swing low at 55.97.
  • All-time high remains at 118.00.


MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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