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The South African rand held most of its previous-day gains in early trade on Friday after the Reserve Bank stressed a preference for a lower 3% inflation target. The SARB presented modelling of a 3% target against the 4.5% midpoint of its current 3-6% range.
The rand traded at 17.8425 per dollar, about 0.1% weaker, as a stronger dollar weighed.
A firmer rand lowers the local-currency cost of imported feed ingredients for South African buyers, while a stronger dollar works the other way. The effect on global feed grain prices is minimal.
cnbcafrica.comReutersMay 30, 2025Not enough comparable past events yet for a historical read.
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.
