# South Africa rand slumps to record low after Moody’s cut to junk | Business Tech Africa · Business Tech Africa

> 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.

- Date: 2020-03-30 · published 2020-03-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/54414-south-africa-rand-slumps-to-record-low-after-moody-s-cut-to-junk-business-tech
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The sharp currency fall sharply raises the local cost of dollar-priced imports, including feed ingredients, for South African buyers.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- businesstechafrica.co.za: https://www.businesstechafrica.co.za/article/south-africa-rand-slumps-to-record-low-after-moodys-cut-to-junk

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