# South African rand, bonds & banking shares fall sharply after downgrade | CNBC Africa

> South Africa's rand, bonds and bank shares fell sharply after S&P Global Ratings cut the sovereign to junk, its first downgrade since 2000. The cut followed President Zuma's sacking of Finance Minister Pravin Gordhan and a cabinet reshuffle that drew criticism from within the ANC.

- Date: 2017-04-04 · published 2017-04-04T12:00:00.000Z
- Category: policy · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/71794-south-african-rand-bonds-and-banking-shares-fall-sharply-after-downgrade-cnbc
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A junk rating raises South Africa's cost of foreign borrowing and can weaken the rand, which lifts the dollar cost of imported feed inputs. Further downgrades would extend the pressure.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2017/south-african-rand-bonds-banking-shares-fall-sharply-downgrade

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