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The rand traded weaker at R18.86 per dollar on Tuesday over worries about how South Africa will fund a R500 billion rescue package. The package includes a R200 billion loan-guarantee scheme, R50 billion for social grants and R40 billion for unemployment benefits.
Analysts said funds could take weeks to flow via multilateral lenders.
A weaker rand raises the local-currency cost of imported feed inputs and makes South African buyers of US-priced commodities pay more, while fiscal stress weighs on demand for feed.
moneyweb.co.zaAlexander Winning, ReutersApr 28, 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.
