# South African rand sheds 7% in a week due to floods, power cuts | Reuters

> 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.

- Date: 2022-04-22 · published 2022-04-22T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/42124-south-african-rand-sheds-7-in-a-week-due-to-floods-power-cuts-reuters
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

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.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-heads-punishing-6-loss-this-week-2022-04-22/

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