# South African rand firms ahead of cenbank move; stocks slide | CNBC Africa

> The rand firmed ahead of a expected 75 basis point hike by the South African Reserve Bank, trading near 17.6 per dollar. Emerging market stocks neared 28-month lows after the Fed signaled faster US rate increases.

- Date: 2022-09-22 · published 2022-09-22T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/39849-south-african-rand-firms-ahead-of-cenbank-move-stocks-slide-cnbc-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Aggressive Fed tightening and a possible SARB hike shape the currency backdrop for South African feed importers, though the effect on grain prices is indirect.

## Read by commodity

- USDZAR: neutral

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2022/south-african-rand-firms-ahead-of-cenbank-move-stocks-slide

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