# South African rand weakens as local, global economic woes weigh

> South Africa's rand weakened about 1.4% to 14.5050 per dollar as weaker-than-expected Chinese factory indicators and strong US growth reduced demand for riskier currencies. The rand has failed to hold below the 14.20 technical level this week despite high yields. Local growth concerns are also weighing on it.

- Date: 2021-04-30 · published 2021-04-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/47898-south-african-rand-weakens-as-local-global-economic-woes-weigh
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the cost of rand-priced imports for South African feed and grain buyers. Softer Chinese manufacturing data also signals weaker demand for commodities.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-weakens-local-global-economic-woes-weigh-2021-04-30/

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