# South African rand weakens, focus on cabinet announcement - Markets - Business Recorder

> The rand weakened in early trade on Monday as markets awaited President Ramaphosa's cabinet announcement, following the ANC's loss of its parliamentary majority. Nine parties have joined the ANC in a government of national unity, including the Democratic Alliance. The benchmark 2030 government bond yield rose 4 basis points to 9.725%.

- Date: 2024-06-24 · published 2024-06-24T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/30088-south-african-rand-weakens-focus-on-cabinet-announcement-markets-business
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the local-currency cost of dollar-priced feed imports into South Africa. Global feed prices are not meaningfully affected.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40309594

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