# South African rand firms as mining output rises

> The rand weakened to around R19.19 per dollar on Monday ahead of South Africa's repo rate decision and December inflation data. The currency had fallen sharply the prior week after investors pushed back expectations for a March US Federal Reserve rate cut.

- Date: 2024-01-18 · published 2024-01-18T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/32392-south-african-rand-firms-as-mining-output-rises
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the local currency cost of imported feed ingredients for South African buyers. The move reflects US rate expectations more than any change in feed supply.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-firms-early-trade-mining-data-focus-2024-01-18/

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