South African rand stable as investors await budget clarity

South African rand holds steady as investors await budget clarity

The South African rand remained stable on Friday as investors awaited further details on a contentious national budget that has stirred volatility in domestic markets. By 1236 GMT, the rand traded at 18.8125 against the dollar, nearly matching its Wednesday closing level of 18.81. South Africa’s political parties have been at odds over a proposed 1 percentage point increase in the value-added tax (VAT) over the next two years. The proposal was w…

South African rand stable as investors await budget clarity

At 1236 GMT, the rand traded at 18.8125 against the dollar , near its Wednesday closing level of 18.81