Pivotal week for the rand as Mboweni’s budget dominates
Analyst says markets are numbing to pledges by government officials that seem unachievable
24 February 2020 - 05:10
The rand, which slumped to a four-month low on Friday, is set for a potentially decisive week as investors wait to see if finance minister Tito Mboweni will deliver a budget that will appease the last ratings agency that has SA on investment grade.
SA’s currency, a barometer of sentiment towards emerging markets, has fallen 4.6% over the past month as the coronavirus outbreak led to a rush to safe havens such as US treasuries. For 2020, it is down almost 7%, with Brazil’s currency — the real — the only major currency to have fared worse...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.