# South Africa’s rand crashes to its lowest ever after Moody’s pulls the plug | CNBC Africa

> South Africa's rand fell below 18.00 per dollar to an all-time low on Monday after Moody's cut the country's last investment-grade rating to Ba1 with a negative outlook. The downgrade is expected to trigger forced selling of up to $12 billion when South Africa exits the WGBI index.

- Date: 2020-03-30 · published 2020-03-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/54408-south-africa-s-rand-crashes-to-its-lowest-ever-after-moody-s-pulls-the-plug
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the rand cost of imported inputs and feed-grade commodities priced in dollars, so South African feed buyers face higher landed costs. The index exit adds pressure on the currency and local bonds.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2020/south-africas-rand-crashes-to-its-lowest-ever-after-moodys-pulls-the-plug

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