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The rand weakened to R18.88 against the dollar on Thursday after South African producer inflation rose to 5.8% in October and the budget and trade balances showed deficits. The dollar gained about 0.6% against a basket of currencies on month-end demand.
A weaker rand raises the local cost of imported feed ingredients such as soybean meal and corn for South African buyers, though the effect on global prices is small.
moneyweb.co.zaTannur Anders, ReutersNov 30, 2023Not 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.
