# Rand is seen as emerging-market proxy, Sarb says - Moneyweb

> Deputy Governor Francois Groepe said the rand moves with other emerging-market currencies rather than on domestic factors. He noted it is the 16th most-traded currency globally, with about $4 billion in daily spot turnover. The rand was heading for its best November performance in 30 years.

- Date: 2018-11-30 · published 2018-11-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/62335-rand-is-seen-as-emerging-market-proxy-sarb-says-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Because the rand tracks emerging-market sentiment, feed importers in South Africa face currency swings driven by events elsewhere. This adds volatility to their landed input costs.

## Read by commodity

- USDZAR: neutral

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-is-seen-as-emerging-market-proxy-sarb-says/

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