# Rand gains as Fed hikes interest rate as expected - Moneyweb

> The rand firmed in early trade after the US Federal Reserve raised rates by 75 basis points, as expected, and Chair Powell's comments eased worries about the pace of hikes. The rand traded at R16.67 to the dollar and the dollar index was near 106.3.

- Date: 2022-07-28 · published 2022-07-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/40789-rand-gains-as-fed-hikes-interest-rate-as-expected-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A softer dollar after the Fed decision reduces import costs for South African feed buyers, while a stronger rand can ease pressure on local feed prices.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/rand-gains-as-fed-hikes-interest-rate-as-expected/

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