# Strong dollar chokes rand in final stretch of 2024  | News24

> The dollar firmed on the final trading day of 2024, set for strong gains against most currencies as investors priced in fewer US rate cuts and Trump administration policies. The rand had fallen more than 4% in December, trading near R18.80 per dollar after strengthening to R17.10 in September. The dollar index was near a two-year high.

- Date: 2024-12-31 · published 2024-12-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/27252-strong-dollar-chokes-rand-in-final-stretch-of-2024-news24
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar raises the local-currency cost of imported feed ingredients for emerging-market buyers and tends to weigh on dollar-denominated grain prices. The rand weakness is part of a broader dollar-strength trend.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-12-31 | [Dollar gains 4.5% over dong in 2024](https://feedsoft.ai/events/27263-dollar-gains-4-5-over-dong-in-2024.md) | -0.2% | -0.4% |
| DXY | 2022-07-19 | [Strong dollar fuels pullback in commodity markets \| Stock Market News](https://feedsoft.ai/events/40392-strong-dollar-fuels-pullback-in-commodity-markets-stock-market-news.md) | -0.3% | -1.1% |
| DXY | 2022-04-28 | [Rand pressured by strong dollar - Moneyweb](https://feedsoft.ai/events/42125-rand-pressured-by-strong-dollar-moneyweb.md) | +0.1% | -0.4% |
| DXY | 2021-12-09 | [Strong dollar weighs on Latin American currencies \| Financial Post](https://feedsoft.ai/events/43821-strong-dollar-weighs-on-latin-american-currencies-financial-post.md) | +0.8% | -0.3% |
| DXY | 2023-03-02 | [Sterling falls as interest rate outlook and strong dollar weigh](https://feedsoft.ai/events/37124-sterling-falls-as-interest-rate-outlook-and-strong-dollar-weigh.md) | +0.7% | -0.8% |

## Sources

- news24.com: https://www.news24.com/business/markets/strong-dollar-chokes-rand-in-final-stretch-of-2024-20241231

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.