# Rand falls as dollar surges on Fed rate hike forecasts - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

> The rand lost more than 5% against the dollar during the week as Federal Reserve officials called for further rate hikes to tame decades-high inflation. Power cuts from Eskom and a surprise fall in June retail sales also weighed on the currency.

- Date: 2022-08-20 · published 2022-08-20T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/40329-rand-falls-as-dollar-surges-on-fed-rate-hike-forecasts-sabc-news-breaking-news
- 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

Currency weakness raises the local cost of imported feed grains and additives, while hawkish Fed signals support the dollar and can pressure dollar-denominated commodity prices.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-09-26 | [UPDATE 1-South African rand steadies, stocks close higher - Africa Breaking News \| Top Stories \| Political \| Business \| Entertainment \| Sport](https://feedsoft.ai/events/57362-update-1-south-african-rand-steadies-stocks-close-higher-africa-breaking-news.md) | +0.3% | -1.3% |
| DXY | 2023-04-21 | [South African rand weaker as Fed rate bets support dollar \| CNBC Africa](https://feedsoft.ai/events/36686-south-african-rand-weaker-as-fed-rate-bets-support-dollar-cnbc-africa.md) | +0.3% | +0.8% |
| DXY | 2021-06-17 | [South Africa's rand hits one-month low on hawkish Fed, stocks fall - Markets - Business Recorder](https://feedsoft.ai/events/46878-south-africa-s-rand-hits-one-month-low-on-hawkish-fed-stocks-fall-markets.md) | +1.1% | +1.7% |
| DXY | 2022-09-22 | [South Korean won tumbles after Fed hike despite official warnings - Markets - Business Recorder](https://feedsoft.ai/events/39823-south-korean-won-tumbles-after-fed-hike-despite-official-warnings-markets.md) | +1.9% | +1.8% |
| DXY | 2021-01-28 | [South Africa's rand falls as risk-off sentiment lifts dollar](https://feedsoft.ai/events/49431-south-africa-s-rand-falls-as-risk-off-sentiment-lifts-dollar.md) | +0.2% | -0.1% |

## Sources

- sabcnews.com: https://www.sabcnews.com/sabcnews/rand-falls-as-dollar-surges-on-fed-rate-hike-forecasts/

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