# Rand Forecasts Downgraded at Goldman Sachs

> Goldman Sachs downgraded its South African rand forecasts, saying the high-growth phase of the post-Covid recovery has passed. The bank described the rand as one of the most volatile and highest-beta emerging-market currencies. The rand had been among the worst performers in emerging-market FX that week after strong gains in late August and early September.

- Date: 2021-09-22 · published 2021-09-22T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/45356-rand-forecasts-downgraded-at-goldman-sachs
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A forecast downgrade signals expectations of a weaker rand, which raises the local cost of dollar-priced grain and feed imports. The rand's high beta also means it will swing with global risk sentiment.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/15975-rand-forecasts-downgraded-at-goldman-sachs

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