# South African rand set for more than 6% monthly drop against dollar | Reuters

> The South African rand strengthened on Tuesday but was on track to finish March over 6% weaker against the dollar after an Iran-war-driven selloff. The government cut its fuel levy for one month to cushion fuel price increases.

- Date: 2026-03-31 · published 2026-03-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/20455-south-african-rand-set-for-more-than-6-monthly-drop-against-dollar-reuters
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker rand raises the local cost of imported feed ingredients and fuel for South African feed buyers, while energy-driven inflation pressure keeps monetary policy tight.

## Read by commodity

- WTI: bullish ▲
- USDZAR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-08-31 | [South African Rand Remains Subdued](https://feedsoft.ai/events/18183-south-african-rand-remains-subdued.md) | +8.6% | +10.4% |
| WTI | 2026-10-01 | [Rand weakens to three month low as stronger dollar and oil price weigh on South Africa](https://feedsoft.ai/events/17339-rand-weakens-to-three-month-low-as-stronger-dollar-and-oil-price-weigh-on-south.md) | -2.3% | +12.3% |
| WTI | 2026-09-08 | [Yen extends rally to new seven-month high; dollar subdued ahead of CPI \| Reuters](https://feedsoft.ai/events/17707-yen-extends-rally-to-new-seven-month-high-dollar-subdued-ahead-of-cpi-reuters.md) | +9.2% | +3.1% |
| WTI | 2022-02-03 | [Canadian dollar forecasts turn more bullish as oil hits 7-year high: Reuters poll](https://feedsoft.ai/events/42925-canadian-dollar-forecasts-turn-more-bullish-as-oil-hits-7-year-high-reuters-poll.md) | +1.6% | +22.1% |
| WTI | 2018-05-10 | [US Dollar Forecast: Has USD Run Out Of Surprises This Month?](https://feedsoft.ai/events/65213-us-dollar-forecast-has-usd-run-out-of-surprises-this-month.md) | +0.4% | -7.3% |

## Sources

- uk.marketscreener.com: https://uk.marketscreener.com/news/south-african-rand-set-for-7-monthly-drop-against-dollar-ce7e51ded98af020
- reuters.com: https://www.reuters.com/world/africa/south-african-rand-set-7-monthly-drop-against-dollar-2026-03-31/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.