The rand slips ahead of supplementary budget speech
The finance minister’s special budget speech is expected to add to the rand’s volatility, according to one analyst
The rand was weaker on Wednesday as the rising number of Covid-19 cases in SA and globally weighed on investor sentiment. Local focus has shifted to finance minister Tito Mboweni’s budget speech later today.
Investors have been relying on stimulus measures from governments and central banks around the world in an effort to help cushion the economy against the devastating effects of the coronavirus pandemic, with SA set to announce an emergency budget later today.