# USD/ZAR Price Forecast: BRICS & Jackson Hole Oppose Rand Upside | IG South Africa

> USD/ZAR was consolidating after the Jackson Hole symposium, with the dollar slightly firmer against the rand. Foreign investors pulled R2.87 billion from South African stocks in the prior week, and bond outflows were similar. Local inflation came in below expectations, which may push the central bank toward easing.

- Date: 2023-08-28 · published 2023-08-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/34882-usd-zar-price-forecast-brics-and-amp-jackson-hole-oppose-rand-upside-ig-south
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Foreign portfolio outflows and expected SARB easing both point to continued rand weakness, which raises the rand cost of dollar-denominated feed imports. The effect is modest, as the outlook is mixed.

## Read by commodity

- USDZAR: neutral

## Sources

- ig.com: https://www.ig.com/za/news-and-trade-ideas/usd-zar-price-forecast--brics---jackson-hole-oppose-rand-upside-230828

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