# Rand supported by S&P outlook upgrade - Moneyweb

> The rand edged firmer early on Monday after S&P revised South Africa's sovereign outlook to positive from stable. The South African Reserve Bank had raised its key rate by 50 basis points the previous Thursday, its largest increase in more than six years.

- Date: 2022-05-23 · published 2022-05-23T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/41698-rand-supported-by-s-and-p-outlook-upgrade-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The rating upgrade and tighter policy support the rand, which lowers the local cost of dollar-priced feed imports. The effect on feed prices is modest.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/economy/rand-supported-by-sp-outlook-upgrade/

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