# First Argentina, Then Turkey, Brazil. Now South Africa Reels - Bloomberg

> The South African rand weakened more than 2% on Friday, almost twice the decline of any other major peer. The slide followed a drop in Brazil's currency and came a day after South African policy makers surprised investors with a larger-than-expected interest-rate increase.

- Date: 2018-06-08 · published 2018-06-08T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/5382-first-argentina-then-turkey-brazil-now-south-africa-reels-bloomberg
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Emerging-market currency weakness across Brazil and South Africa can lower dollar prices of their agricultural exports and add pressure to global feed prices. The rate hike shows policy responses to the sell-off.

## Read by commodity

- USDBRL: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2018-06-07 | [Brazil's Real Is in Free Fall - Bloomberg](https://feedsoft.ai/events/5377-brazil-s-real-is-in-free-fall-bloomberg.md) | -2.8% | +2.8% |
| USDBRL | 2020-08-20 | [Brazil’s Real Falls as Shock Senate Vote Fuels Fiscal Woes - Bloomberg](https://feedsoft.ai/events/51814-brazil-s-real-falls-as-shock-senate-vote-fuels-fiscal-woes-bloomberg.md) | +1.9% | -4.5% |
| USDBRL | 2020-03-05 | [Brazilian Real (BRL USD) Plunges to Record Low as Rate Cut Seen - Bloomberg](https://feedsoft.ai/events/9274-brazilian-real-brl-usd-plunges-to-record-low-as-rate-cut-seen-bloomberg.md) | +3.0% | +15.4% |
| USDBRL | 2018-06-28 | [How a Rising U.S. Dollar Puts Argentina's and Brazil's Economies at Risk](https://feedsoft.ai/events/64805-how-a-rising-u-s-dollar-puts-argentina-s-and-brazil-s-economies-at-risk.md) | +1.8% | -3.2% |
| USDBRL | 2018-06-06 | [El-Erian Warns Brazil May Be Next Emerging-Market Domino to Fall - Bloomberg](https://feedsoft.ai/events/5381-el-erian-warns-brazil-may-be-next-emerging-market-domino-to-fall-bloomberg.md) | -2.7% | +2.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-06-08/first-argentina-then-turkey-brazil-now-south-africa-reels

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