# Rand falls after S&P downgrades South Africa to “junk” | CNBC Africa

> 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.

- Date: 2017-04-04 · published 2017-04-04T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/71795-rand-falls-after-s-and-p-downgrades-south-africa-to-junk-cnbc-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

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.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2017/rand-falls-sp-downgrades-south-africa-junk

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