# USD/ZAR: Rand to get under further downside pressure for now – Commerzbank: Analytics and Market news from 28 September 2022 06:21

> Commerzbank expects the rand to face further downside pressure after the South African Reserve Bank hiked its key rate by 75 bps to 6.25% last week. It sees a further 50 bp hike likely at the November meeting.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/39847-usd-zar-rand-to-get-under-further-downside-pressure-for-now-commerzbank
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Higher South African rates and a weaker rand raise import costs for feed inputs, and the currency outlook signals continued pressure on local buyers.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- teletrade.org: https://www.teletrade.org/analytics/market-analysis/market-news/3796268

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