# Rand close to breaking R17 to the dollar – but needs a bigger push – BusinessTech

> The rand strengthened over recent weeks after the US Federal Reserve cut rates by 50 basis points, and reached R17.03/$ on Friday. It has not yet broken the R17.00 resistance level, which analysts say needs further momentum.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/28615-rand-close-to-breaking-r17-to-the-dollar-but-needs-a-bigger-push-businesstech
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Currency strength in South Africa tends to lower local feed and input costs for importers, while the US rate-cut driver also supports emerging-market currencies generally.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- businesstech.co.za: https://businesstech.co.za/news/finance/792968/rand-close-to-breaking-r17-to-the-dollar-but-needs-a-bigger-push/

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