# USD/ZAR forecast: here are the South African rand levels to watch

> The South African Reserve Bank left its benchmark rate unchanged at 8.25%, its highest level in over 15 years, and warned that inflation will reach the midpoint of its target later than previously expected. USD/ZAR held in a tight range near 18.93 after the decision and the surprise budget surplus.

- Date: 2024-03-29 · published 2024-03-29T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/31505-usd-zar-forecast-here-are-the-south-african-rand-levels-to-watch
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Rates held at a high level keep the rand supported, but analysts expect cuts later in the year, which could weaken the currency. Feed importers face little immediate change in local-currency costs.

## Read by commodity

- USDZAR: neutral

## Sources

- invezz.com: https://invezz.com/news/2024/03/29/usd-zar-forecast-here-are-the-south-african-rand-levels-to-watch/

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