# Foreign investors cheer Ramaphosa presidency

> The rand rallied to R11.57 per dollar after Ramaphosa replaced Zuma as president, about 20% stronger than in November. The benchmark 10-year government bond yield fell to 8.18%, and foreign investors bought more top-40 shares than they sold. Bloomberg reported that South African bonds had become more attractive than Mexican bonds for the first time.

- Date: 2018-02-16 · published 2018-02-16T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/66791-foreign-investors-cheer-ramaphosa-presidency
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Strong foreign inflows that lift the rand lower the local cost of imported feed ingredients for South African buyers. The price effect on global grain and meal markets is negligible.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- businessday.co.za: https://www.businessday.co.za/bd/markets/2018-02-16-foreign-investors-cheer-ramaphosa-presidency/

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