Rand holds steady during the Budget as markets take heart
Rand holds steady during the Budget as markets take heart By Edward West Share CAPE TON - THE RAND HELD steady throughout Finance Minister Tito Mboweni's speech yesterday, indicating the market had maintained an overall positive response to the National Budget, despite a small dip in the currency, later in the day. Citadel Global executive director Bianca Botes said it appeared the market had taken note of Mboweni stressing that “this is not an austerity budget". The rand gained about 0.9 percent against the dollar in intraday trading, prior to the speech. It dipped slightly towards R14.50 ...
Source: iol.co.za