# South Africa’s Rand (ZAR/USD) Pares Loss After Surprise Monthly Surplus - Bloomberg

> South Africa's National Treasury reported a February budget surplus of 20.8 billion rand ($1 billion), against a median economist forecast of a 7.5 billion rand deficit. The rand pared an early decline of as much as 1% and traded about 0.1% weaker near 18.93 per dollar.

- Date: 2024-03-28 · published 2024-03-28T12:00:00.000Z
- Category: report · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/31502-south-africa-s-rand-zar-usd-pares-loss-after-surprise-monthly-surplus-bloomberg
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A surprise surplus eases fiscal pressure on the rand and reduces the currency risk for South African feed importers. The effect on feed prices is small unless the currency moves sustainably.

## Read by commodity

- USDZAR: neutral

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-03-28/south-africa-s-rand-pares-loss-after-surprise-monthly-surplus

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