# South African rand strengthens despite lacklustre PMI | CNBC Africa

> The South African rand gained more than 1% to 19.28 per dollar on June 5 despite a PMI survey showing business activity near a two-year low. The gain was boosted by Chinese PMI data showing manufacturing and services activity picking up. The rand had fallen sharply in May on rolling blackouts and US arms allegations.

- Date: 2023-06-05 · published 2023-06-05T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/35801-south-african-rand-strengthens-despite-lacklustre-pmi-cnbc-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Stronger Chinese activity supports South African export demand and lowers the local cost of dollar-priced feed imports. The rand move is a routine reaction to external data.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2023/south-african-rand-strengthens-despite-lacklustre-pmi

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