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The rand rose as much as 1.3% against the dollar after the South African Reserve Bank lifted its repurchase rate to 6.75% from 6.5%. The central bank's model signals four more increases by the end of 2020.
The yield on rand bonds due 2026 fell eight basis points.
A stronger rand lowers the local cost of dollar-priced feed imports. Further rate hikes signalled by the central bank could keep supporting the currency.
moneyweb.co.zaDana El Baltaji, Arif Sharif, BloombergNov 22, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
