# Rand extends losses after Sarb rate cut - Moneyweb

> The South African rand extended losses on Thursday after the Reserve Bank cut its repo rate by 25 basis points and said the currency was overvalued. The rand fell 0.7% to 11.84 per dollar and was on course for weekly losses above 1.1%.

- Date: 2018-03-29 · published 2018-03-29T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/66282-rand-extends-losses-after-sarb-rate-cut-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Lower SA rates and a weaker rand reduce the appeal of carry trades, and a weaker rand raises the local cost of imported feed inputs such as soybean meal and corn for South African buyers.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-extends-losses-after-sarb-rate-cut/

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