# Rand softens as trade fears offset rate hike - Moneyweb

> The rand eased against the dollar to 13.78 after hitting a three-month high the previous session, when the South African Reserve Bank raised rates 25 basis points to 6.75%. Traders were watching US-China trade developments ahead of the G20 meeting. Thin holiday trade was expected to limit volumes.

- Date: 2018-11-23 · published 2018-11-23T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/62336-rand-softens-as-trade-fears-offset-rate-hike-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The rand's pullback after the rate hike reduces the near-term benefit of the tighter policy for dollar-priced imports. Currency swings like this affect the local cost of feed ingredients.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-softens-as-trade-fears-offset-rate-hike/

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