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The rand plunged to a record low of 18.05 per dollar in Asian trading after Moody's cut South Africa to junk late Friday. It recovered to around 17.90 during African hours, and the currency has weakened about 17% over the past month as South Africa began a three-week national lockdown.
The sharp currency fall sharply raises the local cost of dollar-priced imports, including feed ingredients, for South African buyers.
businesstechafrica.co.zaManda BandaMar 30, 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.
