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The rand weakened ahead of President Cyril Ramaphosa's address on a economic recovery plan, with the currency 0.54% weaker at R16.63 per dollar. Bonds also sold off, with the 2030 yield rising to 9.44%.
Analysts warned that high-yield foreign inflows could dry up without a credible plan for growth and debt.
Currency weakness raises the local cost of imported feed ingredients for South African buyers, and the risk of capital outflows adds to pressure. The effect depends on whether the recovery plan convinces investors.
moneyweb.co.zaMfuneko Toyana, ReutersOct 15, 2020Not 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.
