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The South African rand extended gains on June 12 to 18.525 per dollar, more than 1% stronger than the prior Friday's close. Investor sentiment improved on reduced power cuts and easing tensions between South Africa and the West over Russia.
The rand had recovered more than 6% in June after a roughly 7% fall in May.
A stronger rand lowers the local cost of dollar-priced feed imports for South African buyers. The gain reflects sentiment and easing power cuts rather than a change in feed supply.
cnbcafrica.comReutersJun 12, 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.
