# ZAR/USD: Rands Drops as South Africa Election Forecast Shows ANC Decline - Bloomberg

> The rand dropped after a state research agency model showed the ANC losing its parliamentary majority for the first time since apartheid ended. Investors had positioned for a comfortable coalition outcome, and the projections unsettled those expectations.

- Date: 2024-05-30 · published 2024-05-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/30551-zar-usd-rands-drops-as-south-africa-election-forecast-shows-anc-decline
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Political uncertainty pushes the rand weaker against the dollar, which raises the local-currency cost of imported feed ingredients.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-05-30/south-african-rand-drops-as-election-forecast-shows-anc-decline

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