# Rand leads emerging-market gains on encouraging political news - Moneyweb

> The South African rand rose 1.6% against the dollar, its biggest gain since mid-June, after reports that parties were close to finalising a new ruling coalition. Bank of America closed its bearish rand trade, expecting an ANC and Democratic Alliance government. Standard Chartered said further gains were likely once the cabinet was confirmed.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/30084-rand-leads-emerging-market-gains-on-encouraging-political-news-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A stronger rand lowers the local cost of dollar-priced feed imports into South Africa, a minor shift for feed buyers. The effect on global grain and oilseed prices is negligible.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/economy/rand-leads-emerging-market-gains-on-encouraging-political-news/

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