# Rand weakens against stronger dollar; focus on mid-term budget - Moneyweb

> The rand weakened against a stronger US dollar in early trade on Tuesday, trading at R18.89 per dollar, while investors awaited South Africa's medium-term budget policy statement. The dollar was slightly higher against a basket of currencies.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/33915-rand-weakens-against-stronger-dollar-focus-on-mid-term-budget-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker rand raises the local cost of dollar-priced grain and feed imports, so buyers in South Africa face higher landed feed costs; the budget outcome could shift the currency's direction.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-02-28 | [Rand pressured by a stronger US dollar - Moneyweb](https://feedsoft.ai/events/37617-rand-pressured-by-a-stronger-us-dollar-moneyweb.md) | -0.7% | -0.9% |
| DXY | 2022-09-28 | [Rand weakens as dollar advances on hawkish Fed - Moneyweb](https://feedsoft.ai/events/39845-rand-weakens-as-dollar-advances-on-hawkish-fed-moneyweb.md) | -1.8% | -1.5% |
| DXY | 2026-10-01 | [Rand weakens to three month low as stronger dollar and oil price weigh on South Africa](https://feedsoft.ai/events/17339-rand-weakens-to-three-month-low-as-stronger-dollar-and-oil-price-weigh-on-south.md) | +0.2% | +0.6% |
| DXY | 2022-04-28 | [Rand pressured by strong dollar - Moneyweb](https://feedsoft.ai/events/42125-rand-pressured-by-strong-dollar-moneyweb.md) | +0.1% | -0.4% |
| DXY | 2022-08-31 | [Rand weakens against strong dollar as investors digest Fed’s hawkish stance](https://feedsoft.ai/events/40327-rand-weakens-against-strong-dollar-as-investors-digest-fed-s-hawkish-stance.md) | +0.9% | +3.6% |

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/rand-weakens-against-stronger-dollar-focus-on-mid-term-budget/

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