# South African rand weakens as US dollar firms, shares flat | CNBC Africa

> The South African rand weakened about 0.6% to 18.78 per dollar on June 29 as the dollar firmed on expectations of further Federal Reserve rate hikes. The dollar index hit a two-week high after US labour data showed a solid job market. South Africa's producer inflation slowed to 7.3% in May from 8.6% in April.

- Date: 2023-06-30 · published 2023-06-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/35795-south-african-rand-weakens-as-us-dollar-firms-shares-flat-cnbc-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer dollar raises the rand cost of dollar-priced feed ingredients imported by South Africa, so local feed costs edge higher. The move is small and mainly reflects external rate expectations.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2023/south-african-rand-weakens-as-us-dollar-firms-shares-flat

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