# This is what’s driving the rand right now – BusinessTech

> The rand reached a six-week high after the SARB's surprise 50 basis point rate hike, trading as much as R17.75 against the dollar. Analysts said the gain is short-term, with the longer-term trend still depreciation driven by global risk sentiment and export commodity prices.

- Date: 2023-03-31 · published 2023-03-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/37163-this-is-what-s-driving-the-rand-right-now-businesstech
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Currency moves shift South African import costs for feed ingredients, and analysts expect the rand's weakness to persist, which keeps local feed prices elevated.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- businesstech.co.za: https://businesstech.co.za/news/finance/677041/this-is-whats-driving-the-rand-right-now/

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