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The South African rand firmed against the dollar at 18.91 on Monday, about 0.4% stronger than its prior close. Traders were awaiting the South African Reserve Bank's rate decision on Wednesday, after inflation rose to 5.6% in February.
A firmer rand lowers the local-currency cost of imported feed inputs such as soymeal and corn. Expectations of a hold keep the currency's near-term direction tied to the dollar.
cnbc.comReutersMar 25, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
