Loading…
The rand fell to a three-week low on Monday, weakening to R14.86 per dollar at its worst intraday, while the JSE slipped to its lowest level since January. The sell-off was driven by fears that the Evergrande liquidity crisis would spread beyond China's property sector.
The rand had fallen for five straight sessions ahead of the Federal Reserve's policy meeting.
A weaker rand raises the local cost of dollar-priced feed imports. Concern about Chinese growth also signals weaker demand for South African commodity exports.
businessday.co.zaAndries Mahlangu, Lindiwe TsoboSep 20, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
