# The rand goes from best-performing to worst-performing emerging market currency - Moneyweb

> The rand has fallen more than 7% since June 4, from near R13.43 per dollar to about R14.40, becoming the worst-performing emerging market currency after the Fed signalled earlier rate hikes. Covid Level 3 restrictions and Eskom load shedding also weighed on the currency.

- Date: 2021-06-21 · published 2021-06-21T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/46874-the-rand-goes-from-best-performing-to-worst-performing-emerging-market-currency
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A sharply weaker rand raises the rand cost of imported feed ingredients and grains for South African buyers, while a stronger dollar tends to pressure dollar-denominated commodity prices.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-06-29 | [Market rout sends African assets from the rand to bonds reeling - Moneyweb](https://feedsoft.ai/events/64817-market-rout-sends-african-assets-from-the-rand-to-bonds-reeling-moneyweb.md) | -1.1% | -0.9% |
| DXY | 2018-08-30 | [Fresh Stress Grips Weakest Emerging-Market Currencies](https://feedsoft.ai/events/63696-fresh-stress-grips-weakest-emerging-market-currencies.md) | +0.9% | +0.3% |
| DXY | 2023-10-04 | [The Fed - U.S. Interest Rates and Emerging Market Currencies: Taking Stock 10 Years After the Taper Tantrum](https://feedsoft.ai/events/33530-the-fed-u-s-interest-rates-and-emerging-market-currencies-taking-stock-10-years.md) | -0.8% | +0.0% |
| DXY | 2016-11-14 | [Emerging market bond, currency markets face ‘meltdown’ after Trump's win](https://feedsoft.ai/events/74153-emerging-market-bond-currency-markets-face-meltdown-after-trump-s-win.md) | +1.4% | +0.8% |
| DXY | 2022-04-08 | [No peace for emerging market currencies as mighty US dollar reigns: Poll- Moneycontrol.com](https://feedsoft.ai/events/42145-no-peace-for-emerging-market-currencies-as-mighty-us-dollar-reigns-poll.md) | +0.3% | +3.1% |

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/economy/the-rand-goes-from-best-performing-to-worst-performing-emerging-market-currency/

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