# Rand surges as traders cheer respite from Moody’s - Moneyweb

> The rand rose as much as 3.3% on Monday, on track for its best day since December 2015. The gain followed Moody's decision to keep South Africa's local-currency debt at investment grade after S&P had downgraded it to junk the previous Friday. Moody's placed the rating on review for downgrade.

- Date: 2017-11-27 · published 2017-11-27T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/68283-rand-surges-as-traders-cheer-respite-from-moody-s-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Avoiding exclusion from Citi's World Government Bond Index prevented forced bond selling of up to $10 billion. The rand's sharp rebound lowers the local cost of dollar-priced feed imports, at least temporarily.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/rand-surges-as-traders-cheer-respite-from-moodys/

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