# USD/ZAR: South Africa stocks, rand surge on government of national unity (GNU) - Bloomberg

> South Africa's stock benchmark posted its biggest gain of the year, and the rand and government bonds rallied after the African National Congress agreed to a government of national unity. The rally followed the re-election of Cyril Ramaphosa as president, ending the longest daily streak of equity outflows in three years.

- Date: 2024-06-18 · published 2024-06-18T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/30086-usd-zar-south-africa-stocks-rand-surge-on-government-of-national-unity-gnu
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand lowers the local cost of dollar-priced feed imports, a small factor for South African buyers. Global feed prices are not meaningfully affected.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-06-18/usd-zar-south-africa-stocks-rand-surge-on-government-of-national-unity-gnu

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