# South African rand supported by carry trade and precious metals

> The South African rand strengthened 0.6% to 17.5050 per dollar, supported by gold prices and carry-trade appeal. Bond yields were rising, which kept portfolio inflows attractive.

- Date: 2024-10-22 · published 2024-10-22T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/28152-south-african-rand-supported-by-carry-trade-and-precious-metals
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Rand strength lowers the local cost of dollar-priced feed imports. The move is driven by currency flows rather than any change in grain or feed supply.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/south-african-rand-supported-by-carry-trade-precious-metals-2024-10-22/

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