Currency Capers

This month, we look at currency exposure and how it can sometimes be the key determinant driving your investment success, while at other times, it has no impact other than to confuse and complicate. As we see USD weakness in 2025, and many currencies impacted by pending trade tariffs, currency is back on the menu. While we often think in terms of Rand, and that any other currency is preferable, this misses the point that most offshore currencies experience significant appreciation or depreciation and can undermine your investment returns if you are not clear upfront on what you are wanting to achieve.