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South Africa gazetted diplomatic immunity for international officials attending BRICS-related events, which covers Russian President Vladimir Putin, despite an ICC arrest warrant against him. The South African Reserve Bank warned of secondary sanctions.
The rand moved to its worst level ever against the dollar.
Possible Western sanctions and foreign investment outflows would weaken the rand and could disrupt South African trade and import payments. A weaker rand raises the local cost of dollar-priced feed imports.
ig.comShaun MurisonMay 31, 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.
