A stronger rand, so why does nothing feel cheaper?

The rand’s performance against the US dollar remains a key indicator of South Africa’s economic fortunes.

THE rand traded below R16 to the US dollar last week, for the first time since February this year.

Much of the coverage called it a psychological barrier. Some called it a milestone. Both are reasonable descriptions of what happened on a screen.

For most people reading this, the question is simpler. Does it reach me, and would I know it if it did?

The honest answer is yes, in some places quickly, in others slowly, and in many places not at all. Understanding which is which explains why a stronger currency so often feels like nothing at all.