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South Africa's rand finished 2024 among the five best-performing emerging-market currencies, though a steep December sell-off erased its year-to-date gain, leaving it down about 2%. It ranked fifth behind the Malaysian ringgit, Hong Kong dollar, Thai baht and Peruvian sol among 24 tracked currencies.
Developing-nation currencies broadly struggled as strong US growth supported the dollar.
A firmer rand lowers the rand cost of South African imports and marginally eases pressure on local feed-ingredient and maize prices. The effect on world feed prices is small.
bloomberg.comColleen Goko-Petzer, Mpho HlakudiDec 31, 2024Not 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.
