The true past of South Africa's forex market can be traced back to the late 1980's. Between 1987 to 1990, the industry witnessed exponential growth, where the average growth rate was nearly 23.5 per cent per year. The level was consistent with other leading forex markets, such as the United Kingdom, Canada , Japan, and the U.S., which experienced growth of up to 30% per year over the same three-year period.
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