# South Africa’s rand jumps on improving investor sentiment | CNBC Africa

> 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.

- Date: 2023-06-12 · published 2023-06-12T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/35800-south-africa-s-rand-jumps-on-improving-investor-sentiment-cnbc-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

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.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2023/south-africas-rand-jumps-on-improving-investor-sentiment

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