# South African rand recovers from record low amid investor caution | Reuters

> The South African rand recovered from an intraday record low of 19.9075 per dollar on June 1, trading at 19.59. The currency had lost more than 7% in May amid worsening rolling blackouts and US allegations that South Africa supplied arms to Russia. Analysts see the rand trapped in a R19.50 to R20.00 range.

- Date: 2023-06-01 · published 2023-06-01T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/35797-south-african-rand-recovers-from-record-low-amid-investor-caution-reuters
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The rand's May slump raised the local cost of dollar-priced feed imports, and the partial recovery eases that pressure. Continued investor outflows would keep South African feed costs elevated.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-hits-new-low-early-trade-2023-06-01/

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