# Rand price performance has been supported by commodity prices | IG South Africa

> An analyst review says the rand's recent performance has been supported by rising commodity prices. It notes that commodity-exporting currencies including the Australian dollar, Brazilian real, Canadian dollar, Mexican peso and South African rand have gained against the US dollar since Russia's invasion of Ukraine on February 24. The Dollar Index has risen since June 2021 on Fed tightening and safe-haven demand.

- Date: 2022-03-31 · published 2022-03-31T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/42555-rand-price-performance-has-been-supported-by-commodity-prices-ig-south-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger commodity exporter currencies can lower the cost of imported feed inputs for those countries. Currency strength tied to commodity prices can also signal continued firm export values.

## Read by commodity

- DXY: neutral
- USDZAR: bearish ▼

## Sources

- ig.com: https://www.ig.com/za/news-and-trade-ideas/rand-price-performance-has-been-supported-by-commodity-prices-220331

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