# Rand weakens on Moody’s comments; stocks down - Moneyweb

> The rand weakened to 14.64 per dollar after Moody's said South Africa's weaker fiscal outlook in the medium-term budget statement was a credit negative. Moody's is the last of the big three agencies still rating Pretoria's debt at investment grade and is due to report its rating soon. Local stocks fell, with the all share index down 1.30%.

- Date: 2018-10-26 · published 2018-10-26T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/62825-rand-weakens-on-moody-s-comments-stocks-down-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the rand cost of imported feed inputs such as soybean meal and corn, and a sovereign downgrade could weaken the currency further.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-weakens-on-moodys-comments-stocks-down/

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