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MUFG said the rand strengthened sharply in November, moving from 18.34 to 16.96 per dollar. The bank warned that USD/ZAR could rise again as global growth slows, and that financial market volatility could return.
It still expects the rand to strengthen over the year ahead, but with setbacks.
Slowing global growth and possible volatility could weaken the rand again, raising the dollar cost of imported feed ingredients in South Africa.
teletrade.orgDec 7, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
