# South African rand sheds some gains a day after cbank's 'hold' decision

> The rand weakened slightly to 18.855 against the dollar on Friday after the South African Reserve Bank held its main lending rate unchanged for the third meeting in a row. The dollar was about 0.4% weaker against a basket of currencies.

- Date: 2023-11-24 · published 2023-11-24T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/33451-south-african-rand-sheds-some-gains-a-day-after-cbank-s-hold-decision
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A hawkish central bank hold supports the rand, slightly lowering import costs for feed ingredients in South Africa with minimal global price effect.

## Read by commodity

- USDZAR: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/south-african-rand-extends-gains-after-key-rate-left-unchanged-2023-11-24/

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