A five rand coin. Picture: REUTERS
A five rand coin. Picture: REUTERS

The rand was under pressure on Wednesday afternoon after finance minister Tito Mboweni presented his medium-term budget policy statement (MTBPS).

There are suggestions, however, that the trend will be short-lived, especially as focus shifts to the US Federal Reserve later on Wednesday evening.

Reezwana Sumad from Nedbank joined Business Day TV to discuss the factors affecting the local currency.