What to know

• One-year risk reversals — the difference in cost between options to sell or buy the rand — traded at 1.8 percentage points on Tuesday, the lowest level since December.S1
• The cost of hedging against rand declines over the next 12 months has fallen to the lowest level this year as investors bet gyrations spurred by the Middle East conflict and a surprise interest-rate hold by the central bank will soon blow over.S2