# South Africa's rand weakens as government tightens COVID-19 restrictions

> South Africa's rand weakened early Monday after President Ramaphosa tightened COVID-19 restrictions for 14 days amid a third wave of infections. The rand traded at 14.18 per dollar, 0.37% weaker than its prior close.

- Date: 2021-06-28 · published 2021-06-28T12:00:00.000Z
- Category: disease · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/46872-south-africa-s-rand-weakens-as-government-tightens-covid-19-restrictions
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Tighter lockdown measures weigh on an already faltering South African economy and can dent demand for feed and grain imports, while a weaker rand raises local-currency costs for imported feed ingredients.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/article/safrica-markets/south-africas-rand-weakens-as-government-tightens-covid-19-restrictions-idUSL5N2OA0ZV/

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