# Rand steadies, coronavirus concerns remain - Moneyweb

> The rand steadied at R17.26 per dollar on Monday as rising global COVID-19 cases and renewed US state restrictions kept risk-off sentiment in place. Analysts pointed to safe-haven flows amid talk of a US double-dip recession. South Africa's first-quarter GDP data was due the next day.

- Date: 2020-06-29 · published 2020-06-29T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/52907-rand-steadies-coronavirus-concerns-remain-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weak rand raises the local-currency cost of imported feed ingredients for South African buyers, while a steady rand keeps import costs stable. The move is driven by global risk sentiment rather than grain fundamentals.

## Read by commodity

- USDZAR: neutral

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/economy/rand-steadies-coronavirus-concerns-remain/

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