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The rand strengthened over the prior week to a fresh low of about R17.23 per dollar, its strongest level in months. Support came from in-line US PCE inflation data, South Africa's record foreign exchange reserves of $70.42 billion, and rising gold prices.
The Reserve Bank kept its benchmark rate at 7.50%.
A firmer rand and record reserves reduce the local cost of dollar-priced feed imports such as soybean meal and corn. The trend depends on continued dollar weakness and gold strength.
fxleaders.comSkerdian MetaSep 29, 2025Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, DXY 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.
