# Rand Falls as Moody’s Sounds Alarm on South African Economy

> The rand weakened and bond yields rose after Moody's cut South Africa's 2020 growth forecast to 0.7% and warned of domestic challenges. The rand briefly traded above 15 per dollar, and a downgrade to junk at the March review could trigger bond and stock outflows.

- Date: 2020-02-17 · published 2020-02-17T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/54872-rand-falls-as-moody-s-sounds-alarm-on-south-african-economy
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A junk downgrade would likely drive further rand weakness and raise the cost of imported feed inputs for South African buyers.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- dailymaverick.co.za: https://www.dailymaverick.co.za/article/2020-02-17-rand-falls-as-moodys-sounds-alarm-on-south-african-economy/

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