# South African rand falls after PMI shows business decline | Reuters

> The rand fell about 1.8% to 17.40 per dollar on 3 February 2023 after S&P Global's South Africa PMI dropped to 48.7 in January from 50.2 in December. The reading showed the fastest pace of business contraction in a while.

- Date: 2023-02-03 · published 2023-02-03T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/37619-south-african-rand-falls-after-pmi-shows-business-decline-reuters
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weak economic survey and a weaker rand point to softer domestic demand and higher import costs for feed inputs. The effect on global grain prices is limited.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-pauses-before-whole-economy-pmi-2023-02-03/

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