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The rand lost about 1.15% against the dollar on July 29, closing near R18.50, as Middle East escalation fears and anticipation of the Fed decision pushed investors into safe havens. Investec noted the rand had been stronger in recent weeks on improving South African sentiment.
Safe-haven dollar demand weakens the rand and raises the local cost of dollar-priced feed imports, although the effect on prices is modest and short-lived.
businesstech.co.zaGovernmentJul 29, 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.
