# ​Why is the rand so weak at the moment​ | IG South Africa

> The rand has weakened this week along with other emerging-market currencies as the dollar strengthened on rising US Treasury yields. Weakness was amplified by a soft Quarterly Employment Statistics report from Statistics South Africa, which showed total employment falling 0.9% quarter on quarter. Global risk-off drivers cited include Evergrande, the US debt ceiling and a hawkish Federal Reserve.

- Date: 2021-09-28 · published 2021-09-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/45354-why-is-the-rand-so-weak-at-the-moment-ig-south-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the local-currency cost of dollar-priced feed ingredients such as soybean meal and corn imports. The currency move is driven mainly by global risk sentiment and dollar strength rather than by grain fundamentals.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- ig.com: https://www.ig.com/za/news-and-trade-ideas/why-is-the-rand-so-weak-at-the-moment-210928

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