# Rand shines after Turkish rate hike, Moody's comments - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

> 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.

- Date: 2018-09-13 · published 2018-09-13T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/63343-rand-shines-after-turkish-rate-hike-moody-s-comments-sabc-news-breaking-news
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

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.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- sabcnews.com: https://www.sabcnews.com/sabcnews/rand-shines-after-turkish-rate-hike-moodys-comments/

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