Phimiza Mining Pty is a major platinum mining company headquartered in South Africa. This company has other mining interests in Botswana and Zimbabwe. As the Chief Executive Officer (CEO) of Phimiza, you are particularly concerned with how the recent performance of the South African Rand to the US Dollar will affect the overall performance of the mining company.

2.1 Graphically illustrate the performance of the SA Rand to the US Dollar for the period January 2020 to June 2021. As one of the more commonly traded currencies, critically evaluate the ZAR's performance as an emerging market currency and discuss the main drivers of that performance.

2.2 The company's shareholders are also concerned with the impact the performance of the currency would have on the operations and results of the group. With the aid of relevant diagrams, Critically assess how the performance of a currency impacts trade in commodity-based economies.

2.3 The board of directors of Phimiza have requested that you as the CEO, appraise them on the importance of the US dollar in global trade. Specifically they note that the US dollar is defined in many publications as a reserve currency and is an important part of global trade. Critique this assertion that the US dollar is so significant in international trade and that other currencies are far from dislodging the US dollar from its perch as the global reserve currency.