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A Reuters poll found the South African rand will recoup only about half of its over 10% losses against the dollar this year within 12 months. Electricity shortages and rolling power cuts limit the currency's potential for sustained gains.
The rand strengthened below 19 per dollar on June 7 as power cuts eased.
A slower rand recovery keeps dollar-priced feed imports expensive for South African buyers over the coming year. The forecast implies only a gradual easing of that cost pressure.
cnbcafrica.comReutersJun 8, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
