# MARKET WRAP: Rand has best day since Ramaphosa won ANC presidency in 2017

> The rand posted its best day since 2017, firming 2.8% to R16.57 per dollar after the Federal Reserve's dovish tone pressured the US dollar. The JSE All Share index fell 1.43%. The rand remained down about 15% against the dollar for the year.

- Date: 2020-08-28 · published 2020-08-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/51910-market-wrap-rand-has-best-day-since-ramaphosa-won-anc-presidency-in-2017
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A sharp rand gain lowers South Africa's dollar-linked feed import costs, while the stock market decline reflects local rather than agricultural factors. Effects on global feed prices are minimal.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- businesslive.co.za: https://www.businesslive.co.za/bd/markets/2020-08-28-market-wrap-rand-has-best-day-since-ramaphosa-won-anc-presidency-in-2017/

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