# South African rand firms against dollar; stocks edge up

> The rand firmed against the dollar on Monday as the dollar traded lower on expectations that interest rate hikes would moderate. The rand traded at 17.82 per dollar, about 1.41% stronger than its previous close. The dollar index was down about 0.6% at 111.56.

- Date: 2022-10-03 · published 2022-10-03T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/39427-south-african-rand-firms-against-dollar-stocks-edge-up
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger rand lowers the local cost of dollar-priced feed ingredients for South African buyers. The move reflects dollar sentiment on rate expectations and does not change grain or meal supplies.

## Read by commodity

- DXY: bearish ▼
- USDZAR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-firms-ahead-local-pmi-vehicle-sales-data-2022-10-03/

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