# Contagion danger as reeling rand hits 11-mth low

> The rand fell to an 11-month low as South Africa's budget woes deepened, with the currency down more than 4.5% since the government raised its deficit forecasts on Wednesday. Worries that the country could lose its remaining investment-grade ratings also pushed the rand lower, and Turkey's lira fell for a sixth day amid an emerging-market selloff.

- Date: 2017-10-27 · published 2017-10-27T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/68773-contagion-danger-as-reeling-rand-hits-11-mth-low
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Currency stress in emerging markets raises import costs for South African and other EM feed buyers and can squeeze local purchasing power for feed grains. The effect on global feed prices is limited unless the selloff spreads widely.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/article/emerging-markets/emerging-markets-contagion-danger-as-reeling-rand-hits-11-mth-low-idINL8N1N256B/?edition-redirect=in

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