# Rand slips as Ramaphosa’s weekend battle with the ANC pulls focus – BusinessTech

> The rand weakened as much as 0.9% after President Ramaphosa had to fend off a leadership challenge from ANC rivals opposed to his anti-corruption and reform agenda. Implied volatility rose sharply, and South Africa's bond market recorded record net outflows. Analysts warned that weak growth and the loss of investment-grade status would keep pressure on the currency.

- Date: 2020-08-31 · published 2020-08-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/51906-rand-slips-as-ramaphosa-s-weekend-battle-with-the-anc-pulls-focus-businesstech
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Currency weakness raises South Africa's cost of imported feed inputs and can weigh on domestic livestock margins. The effect on global grain and meal prices is limited.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- businesstech.co.za: https://businesstech.co.za/news/finance/430050/rand-slips-as-ramaphosas-weekend-battle-with-the-anc-pulls-focus/

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