# The South African Rand: Humbled by Moody's but Standard Bank Reiterates Bullish Forecast

> The rand fell sharply in late July after Moody's warned that the government's plan to rescue Eskom with R59bn in additional funding threatens South Africa's credit rating. USD/ZAR crossed 14. Standard Bank kept its bullish rand forecast.

- Date: 2019-07-26 · published 2019-07-26T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/58389-the-south-african-rand-humbled-by-moody-s-but-standard-bank-reiterates-bullish
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A credit downgrade risk and a weaker rand would raise the dollar cost of imported feed ingredients for South African buyers.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/11765-south-african-rand-humbled-by-moody-s-warning-but-standard-bank-doubles-down-in-bullish-forecasts

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