# Price of the rand moves to its worst levels ever after SARB warning and Putin immunity grant | IG South Africa

> 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.

- Date: 2023-05-31 · published 2023-05-31T12:00:00.000Z
- Category: geopolitics · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/36245-price-of-the-rand-moves-to-its-worst-levels-ever-after-sarb-warning-and-putin
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

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.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- ig.com: https://www.ig.com/za/news-and-trade-ideas/price-of-the-rand-moves-to-its-worst-levels-ever-after-sarb-warn-230531

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