# Bank of America says rand may strengthen as global rate cutting sets in | CNBC Africa

> 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.

- Date: 2024-03-20 · published 2024-03-20T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/31506-bank-of-america-says-rand-may-strengthen-as-global-rate-cutting-sets-in-cnbc
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

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.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2024/bank-of-america-says-rand-may-strengthen-as-global-rate-cutting-sets-in

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