The rand is now the world’s most undervalued currency – here’s where it should be

The Economist’s Big Mac index shows that – theoretically – the rand should be trading at R5.43/dollar. The currency is now undervalued by 67.4%, compared to Brazil (-32%), Argentina (-39%) and India (-56%). Of late, the rand has been a bit stronger after SA recorded its first current account surplus in 17 years. The Economist’s Big Mac Index has been updated, and shows that the rand is now a whopping 67%…