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The rand recovered to R18.32/$, stronger than its level before the national budget was postponed by three weeks over a dispute on a VAT increase. Markets are in a wait-and-see mode, and a weaker US dollar, on track for a third weekly drop, supported the currency.
A firmer rand lowers the local cost of dollar-priced feed imports, although the budget dispute leaves room for renewed volatility. The dollar's direction is the main external driver for these costs.
news24.comReutersFeb 21, 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.
