# South African rand hits new 13-month high on signs of economic turnaround | CNBC Africa

> The South African rand strengthened to a fresh 13-month high of 17.63 per dollar on Friday, with an earlier low of 17.5950. Analysts link the gain to improved domestic supply conditions, with no rolling power cuts for over 150 days.

- Date: 2024-08-30 · published 2024-08-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/29091-south-african-rand-hits-new-13-month-high-on-signs-of-economic-turnaround-cnbc
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand reduces the local cost of imported feed inputs priced in dollars, while the gain reflects expectations of a Fed rate cut next month.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2024/south-african-rand-hits-new-13-month-high-on-signs-of-economic-turnaround

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