# Rand lifted by vaccine hopes; shrugs off downgrades - Moneyweb

> The rand opened stronger on Monday, lifted by global optimism over coronavirus vaccines and shrugging off Fitch and Moody's downgrades of South Africa deeper into junk territory. The 2030 government bond yield rose 3 basis points to 8.845%.

- Date: 2020-11-23 · published 2020-11-23T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/50424-rand-lifted-by-vaccine-hopes-shrugs-off-downgrades-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Currency moves against the dollar affect the cost of South African imports and exports, and the country is a minor feed-grain origin, so the impact on feed prices is limited.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-lifted-by-vaccine-hopes-shrugs-off-downgrades/

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