# Rand steady, oil crash in focus - Moneyweb

> The rand steadied at 18.84 per dollar early Tuesday, but traders expected pressure to persist after US crude futures plunged below zero for the first time. South African cabinet discussions on Covid-19 economic measures were awaited. South Africa has the most confirmed cases in sub-Saharan Africa.

- Date: 2020-04-21 · published 2020-04-21T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/53913-rand-steady-oil-crash-in-focus-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Oil-driven risk aversion hits emerging-market currencies, which raises the cost of dollar-priced feed imports for South African buyers.

## Read by commodity

- WTI: bearish ▼
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-09-18 | [Rand steadies as investors wait on US fed rates, stocks down - Moneyweb](https://feedsoft.ai/events/57365-rand-steadies-as-investors-wait-on-us-fed-rates-stocks-down-moneyweb.md) | -3.4% | -10.9% |
| WTI | 2020-05-11 | [The oil crash couldn’t have come at a better time for India’s rupee](https://feedsoft.ai/events/53410-the-oil-crash-couldn-t-have-come-at-a-better-time-for-india-s-rupee.md) | +19.0% | +54.4% |
| WTI | 2020-10-28 | [Oil Falls As Rise In US Crude Stocks Fans Over-Supply Fears](https://feedsoft.ai/events/50802-oil-falls-as-rise-in-us-crude-stocks-fans-over-supply-fears.md) | -4.8% | +13.6% |
| WTI | 2020-04-26 | [Oil price crash, COVID-19 weaken grains and oilseed markets](https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets.md) | +21.1% | +105.0% |
| WTI | 2022-11-22 | [Feedgrain Focus: Rain reignites southern inverse - Beef Central](https://feedsoft.ai/events/38801-feedgrain-focus-rain-reignites-southern-inverse-beef-central.md) | -2.1% | -4.7% |

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-steady-oil-crash-in-focus/

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