# Rand falls to lowest level against the dollar in months

> The rand fell to its weakest level against the dollar in four months, dropping 0.8% to R19.35 as the dollar strengthened on strong US data and oil prices surged. Markets worried about further Federal Reserve rate hikes and rising local fuel prices.

- Date: 2023-10-04 · published 2023-10-04T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/33924-rand-falls-to-lowest-level-against-the-dollar-in-months
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A weaker rand and higher fuel costs raise the local cost of imported feed ingredients and freight for South African buyers.

## Read by commodity

- DXY: bullish ▲
- BRENT: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-04-28 | [Gold hits lowest level in more than 2 months on lofty dollar, imminent U.S. rate hike](https://feedsoft.ai/events/41758-gold-hits-lowest-level-in-more-than-2-months-on-lofty-dollar-imminent-u-s-rate.md) | +0.1% | -0.4% |
| DXY | 2022-07-29 | [Sterling wraps up small monthly loss against the dollar](https://feedsoft.ai/events/40749-sterling-wraps-up-small-monthly-loss-against-the-dollar.md) | -0.2% | +0.8% |
| DXY | 2018-12-02 | [The baht weakened to 33 baht / dollar, the lowest level around 7 months after the Fed signaled the planned interest. – News – PK Money](https://feedsoft.ai/events/61821-the-baht-weakened-to-33-baht-dollar-the-lowest-level-around-7-months-after-the.md) | +0.2% | -0.6% |
| DXY | 2025-02-11 | [VND/USD: Vietnam Dong Falls to Record Low Against US Dollar - Bloomberg](https://feedsoft.ai/events/26383-vnd-usd-vietnam-dong-falls-to-record-low-against-us-dollar-bloomberg.md) | -1.0% | -2.0% |
| DXY | 2022-10-27 | [Euro falls against the dollar after ECB rate hike, U.S. data](https://feedsoft.ai/events/39360-euro-falls-against-the-dollar-after-ecb-rate-hike-u-s-data.md) | +0.7% | -2.5% |
| BRENT | 2023-08-01 | [Rupee falls 31 paise to 82.23 against the US dollar in early trade](https://feedsoft.ai/events/35313-rupee-falls-31-paise-to-82-23-against-the-us-dollar-in-early-trade.md) | +0.6% | -0.6% |
| BRENT | 2019-03-21 | [Ringgit opens eight-months high against US dollar \| FMT](https://feedsoft.ai/events/60368-ringgit-opens-eight-months-high-against-us-dollar-fmt.md) | -1.2% | +4.3% |
| BRENT | 2026-08-31 | [The Dollar Index falls through a war and a hawkish repricing](https://feedsoft.ai/events/18080-the-dollar-index-falls-through-a-war-and-a-hawkish-repricing.md) | +10.8% | +22.9% |

## Sources

- iol.co.za: https://iol.co.za/business-report/economy/2023-10-04-rand-falls-to-lowest-level-against-the-dollar-in-months/

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