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The FocusEconomics monthly review says the rand hit a record low of 18.98 per dollar on 24 April, down 26.3% year to date. Weakness followed Moody's downgrade, Fitch's junk downgrade and an unexpected central bank rate cut.
Analysts expected partial recovery but continued pressure from the pandemic.
A record-low rand makes dollar-priced feed imports more expensive for South African buyers, reinforcing upward pressure on domestic feed costs.
focus-economics.comNicoApr 24, 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.
