# The rand hits 7-week low on ANC policy plans - Moneyweb

> The rand fell to a seven-week low of 13.42 per dollar, down 1.6% on the day, after the ANC ruling party proposed nationalising the central bank and expropriating land without compensation. The proposals were made at a party policy conference. Shares of companies earning mostly overseas rose as the rand weakened.

- Date: 2017-07-05 · published 2017-07-05T12:00:00.000Z
- Category: policy · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/70265-the-rand-hits-7-week-low-on-anc-policy-plans-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Policy risk to central bank independence and property rights pushes the rand weaker, which raises the local cost of imported feed ingredients. The outcome depends on whether the proposals become policy.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/the-rand-hits-7-week-low-on-anc-policy-plans/

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