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South Africa's rand ended 2025 nearly 13% stronger against the US dollar, its biggest annual gain in 16 years and first yearly rise since 2019. Gains were supported by improved fiscal performance, success in containing inflation and a surge in precious-metal prices.
A stronger rand raises the local cost of imported feed inputs for South African buyers and can weigh on the rand-denominated price of grains imported from the US and Black Sea, while a weaker dollar generally supports dollar-priced commodities.
reuters.comSfundo ParakozovDec 31, 2025Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
