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The rand rose to its highest level in over a week after Turkey's central bank raised rates by 625 basis points and Moody's said it was unlikely to cut South Africa's foreign debt to sub-investment grade. The rand had recovered the losses it took after the economy slipped into recession.
A firmer rand lowers the local-currency cost of imported feed ingredients. Analysts described the rally as a likely short-term recovery in a weak emerging-market backdrop.
sabcnews.comSABC Digital NewsSep 13, 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.
