# South African Rand Gains As Market Awaits New Cabinet - Finimize

> The rand gained early on June 28 as the market awaited President Ramaphosa's unity government cabinet announcement, trading at 18.4150 per dollar. The gain followed a sharp decline caused by disagreements between the Democratic Alliance and the ANC over cabinet posts. The benchmark 2030 bond yield dipped 1 basis point to 10.115%.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/30089-south-african-rand-gains-as-market-awaits-new-cabinet-finimize
- 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 into South Africa. The effect on global feed markets is minimal.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- finimize.com: https://finimize.com/content/south-african-rand-gains-as-market-awaits-new-cabinet

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