# South African rand flat after last week's record low | Reuters

> The South African rand traded near 19.66 per dollar, roughly flat after hitting an all-time low of 19.8175 the previous Friday. The South African Reserve Bank had raised its main rate by 50 basis points, and the currency was down about 7% against the dollar that month. The central bank also warned of financial stability risks from capital outflows and possible sanctions tied to US allegations.

- Date: 2023-05-29 · published 2023-05-29T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/36242-south-african-rand-flat-after-last-week-s-record-low-reuters
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the local-currency cost of imported feed ingredients and supports South African import demand for US dollar-priced grains and meals. The move is largely a currency story with limited direct effect on global feed prices.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-flat-market-nervous-after-last-weeks-record-low-2023-05-29/

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