# South African rand strengthens on strong Q1 GDP data | Reuters

> The rand strengthened on Tuesday after Q1 South African GDP beat expectations and returned to pre-pandemic output levels. The rand traded at 15.3700 per dollar, about 0.45% stronger than the previous close. Investors also remained cautious after a larger-than-expected Australian rate hike.

- Date: 2022-06-07 · published 2022-06-07T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/41267-south-african-rand-strengthens-on-strong-q1-gdp-data-reuters
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand modestly lowers the local cost of imported feed ingredients. The move reflects domestic growth rather than a feed-specific supply or demand change.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-slips-global-caution-gdp-focus-2022-06-07/

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