# Rand leads currency gains as Ramaphosa deems it ‘undervalued’ - Moneyweb

> The rand led currency gains after President Cyril Ramaphosa said it was undervalued and that his land reform plans would not cause disruption. Analysts attributed the rally to improving local and global sentiment.

- Date: 2018-09-26 · published 2018-09-26T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/63339-rand-leads-currency-gains-as-ramaphosa-deems-it-undervalued-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand reduces the local-currency cost of imported feed ingredients for South African buyers. The move is sentiment-driven and analysts disagree on whether it will last.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/rand-leads-currency-gains-as-ramaphosa-deems-it-undervalued/

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