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The rand extended losses on Tuesday to 13.09 per dollar after the Public Protector's proposal to change the Reserve Bank's mandate. Stocks fell, with mining shares weighed down by a government increase in the black ownership threshold for mining firms to 30%.
Rand weakness raises South African import costs for feed and grain. The mining ownership rule affects equities rather than agricultural supply, so the direct grain impact is small.
moneyweb.co.zaNqobile Dludla, Olivia Kumwenda-Mtambo, ReutersJun 20, 2017Not 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.
