# Rand clings on to gains to end 2020 on a high - Moneyweb

> The rand traded flat on the final trading day of 2020 at about 14.61 per dollar, on course to end the year near its January level. It has gained about 18% since early November, helped by Biden's US election win and COVID-19 vaccine progress, though South Africa's economic outlook remains weak.

- Date: 2020-12-31 · published 2020-12-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/49942-rand-clings-on-to-gains-to-end-2020-on-a-high-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand lowers the local-currency cost of imported feed ingredients such as soymeal and corn, which marginally eases South African feed costs. The effect on global grain prices is minimal.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-clings-on-to-gains-to-end-2020-on-a-high/

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