# South African rand firms after central bank rate surprise | Kitco News

> South Africa's rand strengthened against the dollar after the South African Reserve Bank raised its main repo rate by a higher-than-forecast 50 basis points to 7.75%. Most economists polled had expected a 25 basis point increase. February inflation had risen to 7.0%, above the bank's target band.

- Date: 2023-03-30 · published 2023-03-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/37162-south-african-rand-firms-after-central-bank-rate-surprise-kitco-news
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A stronger rand lowers the local-currency cost of imported feed inputs such as soybean meal and corn for South African buyers, though the effect is modest and short-lived.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-03-30/south-african-rand-firms-after-central-bank-rate-surprise

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