Loading…
South Africa's rand fell about 7% over the week ending April 22 to around 15.62 per dollar. Severe Eskom power cuts and KwaZulu-Natal floods, which caused at least 10 billion rand of infrastructure damage, weighed on growth prospects.
Fed Chair Powell's signal of a half-point hike in May also strengthened the dollar.
A weaker rand and strong dollar make South African feed-grain and oilseed imports pricier in local currency, while a firmer dollar generally pressures dollar-denominated grain prices. The effect on commodity prices is modest.
reuters.comApr 22, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
