# Rand falls as dollar gains on bets for quicker rate hikes - Moneyweb

> The rand hit a new 12-month low on Tuesday, trading at R15.88 per dollar, as the dollar rose on bets for faster US rate hikes after Biden backed Powell for a second term. South African government bond yields also edged higher.

- Date: 2021-11-23 · published 2021-11-23T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/44346-rand-falls-as-dollar-gains-on-bets-for-quicker-rate-hikes-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Expectations of faster US rate rises draw capital from riskier emerging markets and weaken currencies such as the rand, which raises the cost of dollar-priced feed imports.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/south-africa/rand-falls-as-dollar-gains-on-bets-for-quicker-rate-hikes/

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