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The rand broke below R17.20 per dollar for the first time since January 2023, supported by a large Chinese stimulus package and a widening interest rate gap with the US. The rand has gained more than 2% against the dollar over the past week.
Chinese stimulus raises expectations for commodity demand, which supports South African mining exports, while a stronger rand lowers the local cost of dollar-priced imports.
news24.comSep 25, 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.
