Been looking at the rand lately hasn't done too good nor too bad compared to other currencies.
Relatively speaking from 10ish to 16 is not that bad, Russia went from around 35 to 75, Brazil from 2.25 to 4.
I am kinda optimistic since gold stabilized (or it looks that way) and the government appears to have hit a wall in realization.
My sense is they began to understand that all of these extra-taxes and barriers they erected will not have investors line
up to go to SA to invest. Considering the amount of fear globally SA doesn't seem that bad.
Relative to the debt outstanding and the potential of the country, as well as, considering the window more or less closed internationally to get more credit SA isn't doing badly.
Once you see exceptions being made for sectors in the economy for international investors or specific exemptions there should be at least some sort of a turn-around I think. Perhaps I am wrong don't know. Something or someone is pushing for change. My guess is the Financial minister you have now will be let go sooner rather than later but before he goes he will take blame for some good reforms he will 'need' to propose to stabilize the situation.
Miners reorganized and essentially separated SA holdings for the most part, if capital isn't invested to redo the infrastructure once it is eaten through there will be very limited development, new mine wise at least.
FDI imploded but there is realization that it won't come back unless treated better. I think.
"FDI into South Africa fell dramatically, down 74% to US$1.5 billion." (page 5)
report below from oecd I think they are a bit full of hopeful. Carbon tax has to go, estate taxes also, the mention of incentives for investment on page 18 do not take into account BWE or other things. They do praise the tax revenue system a lot mostly flipped through it. PDF below.
[bear in mind they have their own agendas to push carbon and other stuff but gives good scope overall]
general stat table
P.S. I am a horrible horrible investor forecaster (so it is very likely the rand goes down further)