# Rand weakens 2% as election results show new political landscape

> The rand weakened as much as 2% to 18.70 per dollar on May 30 as early election results pointed to a new political landscape. The JSE fell as much as 2.3%, and the 2035 local bond yield rose 17 basis points to 12.2%.

- Date: 2024-05-30 · published 2024-05-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/30553-rand-weakens-2-as-election-results-show-new-political-landscape
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Election-driven currency weakness and higher local yields raise South African import costs and tighten financial conditions for feed buyers.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- citizen.co.za: https://www.citizen.co.za/business/rand-weakens-2-election-results/

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