# South African rand firms against dollar ahead of Fed rate decision

> The South African rand strengthened against a weaker US dollar on Wednesday, trading at 18.6250 per dollar, about 0.9% stronger than its prior close. Traders were positioning ahead of the Federal Reserve's interest rate decision, which was expected to be a hold.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/32390-south-african-rand-firms-against-dollar-ahead-of-fed-rate-decision
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand lowers the rand cost of dollar-priced feed ingredients imported by South Africa, modestly easing feed input costs there. The move is currency-driven and small in scale for global grain and oilseed prices.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-little-changed-ahead-fed-rate-decision-2024-01-31/

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