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The rand firmed about 0.2% to R14.93 per dollar in early trade, supported by global risk appetite and foreign inflows into South African bonds. Offshore investors bought R2.68 billion of bonds in the prior week, marking three straight weeks of inflows.
South Africa had also begun its Covid-19 vaccine rollout while easing lockdown restrictions.
Foreign bond inflows support the rand, which lowers the local cost of imported feed inputs. The move is a routine currency update with little direct effect on feed prices.
moneyweb.co.zaMfuneko Toyana, ReutersFeb 3, 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.
