# UPDATE 1-South African rand weakens against dollar, stocks down | Kitco News

> The rand traded at 17.3375 per dollar on January 30, about 0.77% weaker than its previous close. Investec's Annabel Bishop attributed the move to growth concerns from the ongoing electricity crisis, including the threat of stage 8 load shedding. Local equities and the 2030 government bond also weakened.

- Date: 2023-01-30 · published 2023-01-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/38084-update-1-south-african-rand-weakens-against-dollar-stocks-down-kitco-news
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Rand weakness keeps South African dollar-denominated import costs elevated for feed and grain buyers. The move is driven by domestic power problems rather than global grain supply, so its effect on feed prices is limited.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-01-30/update-1-south-african-rand-weakens-against-dollar-stocks-down

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