# SA trails emerging-market peers as Ramaphosa faces calls to resign - Moneyweb

> South Africa's rand and bonds failed to join a global rally, with the rand the worst performer among 25 developing-nation currencies. The 10-year sovereign yield jumped the most since May 2021 after President Ramaphosa faced calls to resign over allegations linked to the theft of R9.8 million hidden in furniture on a game farm he owns. Exporters pulled their offers as the currency looked vulnerable.

- Date: 2022-12-01 · published 2022-12-01T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/38517-sa-trails-emerging-market-peers-as-ramaphosa-faces-calls-to-resign-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Political turmoil is driving capital outflows and a weaker rand, which raises the dollar cost of imported feed. Investors may shift money to faster-growing Asian or Latin American markets.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/south-africa/sa-trails-emerging-market-peers-as-ramaphosa-faces-calls-to-resign/

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