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The South African rand fell to its weakest level in about 18 months, trading near 15.63 per dollar, as coronavirus fears drove a global market sell-off. Pressure also came from concern that Moody's could downgrade South Africa's last investment-grade rating and from bond yields rising.
A weaker rand raises the local cost of imported feed ingredients and inputs for South African buyers, while global risk-off moves can weigh on commodity demand more broadly.
cnbcafrica.comReutersFeb 28, 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.
