# GDP numbers drive up rand - Moneyweb

> The rand strengthened against the dollar, euro and pound after Statistics SA reported third-quarter GDP fell 6% year-on-year, less than the expected 7%. The rand moved from about R15.18 to R15.01 per dollar that day.

- Date: 2020-12-08 · published 2020-12-08T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/49948-gdp-numbers-drive-up-rand-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand lowers the local cost of imported feed ingredients for South African buyers. The effect on global feed markets is negligible.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/gdp-numbers-drive-up-rand/

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