# Rand softens ahead of SA Reserve Bank rate decision | OFM

> The rand traded at R14.69 per dollar ahead of the South African Reserve Bank rate decision, with markets expecting the repo rate to stay at 6.75%. Analysts flagged Moody's rating decision due Friday, with a downgrade to junk status seen as likely to trigger marked rand weakness.

- Date: 2019-03-28 · published 2019-03-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/60380-rand-softens-ahead-of-sa-reserve-bank-rate-decision-ofm
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Expected rand weakness on a possible Moody's downgrade would lift the local cost of imported feed ingredients, though the effect on global feed prices is limited.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- ofm.co.za: https://www.ofm.co.za/article/sa/273088/rand-softens-ahead-of-sa-reserve-bank-rate-decision

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