# Rand up slightly despite Fitch’s warning

> The rand recovered some of its budget-related losses during European trade after Fitch Ratings warned that planned public sector wage freezes will face pushback from unions and that ANC tensions could hamper policy. The rand closed about 0.04% stronger at R16.34 per dollar, while Brent crude fell 3.24% to $37.90 a barrel on new Western lockdown measures.

- Date: 2020-10-30 · published 2020-10-30T12:00:00.000Z
- Category: policy · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/50924-rand-up-slightly-despite-fitch-s-warning
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the local cost of imported feed inputs such as corn and soymeal for South African buyers, while lower crude weighs on energy-linked costs. The move here was small, so the price effect is limited.

## Read by commodity

- USDZAR: neutral

## Sources

- iol.co.za: https://iol.co.za/business-report/economy/2020-10-30-rand-up-slightly-despite-fitchs-warning/

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