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The South African rand was little changed on Friday as stronger precious metal prices and the central bank's cautious rate-cut approach offset a firmer dollar. The South African Reserve Bank had opted for a small rate cut on Thursday, and S&P Global recently raised its outlook on South Africa's sovereign credit rating.
A stable rand keeps the cost of imported feed ingredients and fuel roughly unchanged for South African buyers. The rate decision and rating outlook point to limited near-term currency pressure.
reuters.comNov 22, 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.
