Loading…
The rand fell more than 2% to its weakest level in almost three months after S&P cut South Africa's credit rating to BB+ with a negative outlook. Bonds weakened and analysts expected further downgrades from Moody's and Fitch.
A weaker rand raises the local-currency cost of imported feed ingredients and widens import parity for South African buyers. Analysts expect more pressure if further downgrades follow.
cnbcafrica.comReutersApr 4, 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.
