◂ Event Timeline

Apr 28, 2026MACROSouth Africa

What’s happening with the rand?

The rand weakened to around R16.60 per dollar on April 28 from near R16.40, as global uncertainty, rising oil and a stronger dollar pushed investors away from emerging-market currencies ahead of a US rate decision. Trump rejected Iran's latest proposal to end the war.

WHY IT MATTERS

A weaker rand raises the local cost of dollar-priced feed ingredients. Rising oil prices also add to freight and fuel costs for feed buyers.

AFFECTSSouth African Rand (ZAR per USD)▲Crude Oil (WTI)▲

SOURCE
iol.co.zaNicola MawsonApr 28, 2026

Price reaction & history

South African Rand (ZAR per USD)▲bullish

Not enough comparable past events yet for a historical read.

Crude Oil (WTI)▲bullishSO FAR1d +3.6%5d +10.1%20d -2.4%

After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.

Apr 30, 2026Is the rand on the brink of breaching R17?-10.8%
Apr 4, 2024Why is the rupee falling?+0.9%
Aug 24, 2020Why the loonie's bond with oil remains strong | Wealth Professional+1.5%
Apr 17, 2024How the rupee’s fall can impact the economy and what RBI can do about it | Mint-2.3%
Aug 31, 2026The Dollar Index falls through a war and a hawkish repricing+9.6%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

South African Rand (ZAR per USD) USDZAR · GP ▸

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Crude Oil (WTI) WTI · GP ▸

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