# S&P downgrade counts for little as rand extends gain - Moneyweb

> S&P Global cut South Africa's foreign-currency rating deeper into junk to BB- on Wednesday. The rand nonetheless extended gains for a fifth day, and rand bond yields fell as investors focused on global stimulus. South Africa is set to be excluded from the FTSE World Government Bond Index after Moody's removed its last investment-grade rating.

- Date: 2020-04-30 · published 2020-04-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/53910-s-and-p-downgrade-counts-for-little-as-rand-extends-gain-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand lowers the local cost of imported grains and meals for South African feed buyers, though the downgrade signals weaker domestic demand ahead.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/sp-downgrade-counts-for-little-as-rand-extends-gain/

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