# USD/ZAR: Global growth fears will hold back further upside for Rand in near-term – MUFG: Analytics and Market news from 7 December 2022 07:30

> 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.

- Date: 2022-12-07 · published 2022-12-07T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/38521-usd-zar-global-growth-fears-will-hold-back-further-upside-for-rand-in-near-term
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Slowing global growth and possible volatility could weaken the rand again, raising the dollar cost of imported feed ingredients in South Africa.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- teletrade.org: https://www.teletrade.org/analytics/market-analysis/market-news/3818609

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