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The rand weakened on Thursday as traders took profits ahead of Moody's sovereign credit review due Friday. Naspers fell 4.6% after announcing a sale of part of its Tencent stake.
The rand was 0.63% weaker at 11.89 per dollar.
The move reflects positioning ahead of a ratings decision rather than a new fundamental shift, so its effect on feed costs is minor.
moneyweb.co.zaNomvelo Chalumbira, Mfuneko Toyana, Patricia Aruo, ReutersMar 22, 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.
