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Bank of America expects the rand to strengthen against the dollar this year as the US Federal Reserve and other central banks begin cutting rates. The rand is trading near R19 per dollar after losing more than 28% against the dollar over three years.
A stronger rand would lower import costs for South African feed buyers. The outlook depends on the timing of Fed cuts, so the effect is uncertain.
cnbcafrica.comCNBC Africa StaffMar 20, 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.
