# South African Rand Strengthens

> The rand strengthened about 1.8% on Friday after falling nearly 4% in the previous two sessions on rumours that President Ramaphosa might leave office. The African National Congress denied he was considering stepping down. Analysts said investors were betting that he would stay, given his business-friendly profile.

- Date: 2022-12-02 · published 2022-12-02T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/38520-south-african-rand-strengthens
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Easing fears of a leadership change lift the rand, which makes dollar-priced feed imports cheaper for South African buyers. The move is driven by political sentiment rather than physical supply.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- voaafrica.com: https://www.voaafrica.com/a/currencies-inch-higher-ahead-of-u-s-jobs-data-s-africa-rand-steadies/6859397.html

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