# South African rand drops almost 2% as manufacturing slumps | Reuters

> The South African rand fell almost 2% to about 16.00 per dollar on December 9 after industrial production dropped 8.9% year on year in October, far worse than the 1.4% decline economists expected. The steel and engineering strike was cited as a likely cause. Current account and mining data were also released that day.

- Date: 2021-12-09 · published 2021-12-09T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/43904-south-african-rand-drops-almost-2-as-manufacturing-slumps-reuters
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A sharp manufacturing slump weakens South Africa's growth outlook and pressures the rand, which raises the cost of imported feed inputs priced in dollars. The direct effect on feed commodity prices is small.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/stocks/south-african-rand-weakens-ahead-key-economic-data-2021-12-09/

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