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South Africa's rand weakened from a five-month high against the dollar on Friday, though it still posted a weekly gain. The central bank had raised its repo rate, citing inflation risks linked to the Ukraine crisis.
The rand traded at 14.5755 per dollar, 0.46% weaker on the day.
A higher South African policy rate supports the rand, but the currency's gains are being partly unwound. Rand moves affect the cost of South African-sourced feed inputs and the competitiveness of local exports.
reuters.comMar 25, 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.
