# It’s election year in South Africa but traders aren’t panicking - Moneyweb

> Six-month implied volatility for the rand against the dollar has fallen 155 basis points since the start of 2019, as traders price in a comfortable win for the ruling ANC in May elections. Realised volatility has been above implied volatility since September.

- Date: 2019-01-21 · published 2019-01-21T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/61384-it-s-election-year-in-south-africa-but-traders-aren-t-panicking-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Lower expected currency volatility reduces hedging costs for dollar-priced feed imports. The election is a political event rather than a supply or demand shock for feed grains.

## Read by commodity

- USDZAR: neutral

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/its-election-year-in-south-africa-but-traders-arent-panicking/

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