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The South African rand firmed on Thursday after the central bank held its repo rate at 6.5%, with the currency at about 14.70 per dollar. Stocks fell as renewed US-China diplomatic friction raised fears of a delay to a trade deal.
A firmer rand modestly lowers the local cost of imported feed inputs, while the rate hold keeps domestic borrowing costs elevated for livestock and feed operators.
moneyweb.co.zaOlivia Kumwenda-Mtambo, Naledi Mashishi, ReutersNov 21, 2019Not 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.
