THE rand was stable against the dollar today, a day after a pre-election budget that trimmed economic growth and budget deficit forecasts but did little to move the market.
The rand was at 10.8300 to the dollar at
Presenting a R1.3 trillion budget yesterday before
The rand and government bonds weakened marginally after Gordhan's speech and the currency ended the session lower, though analysts said this was largely because of broader pressure on emerging market currencies.
"The biggest issue for the rand is probably the normality of the budget,"
Government bonds were little changed, with yields on the 2026 and 2015 paper each inching up 0.5 basis points to 8.545 percent and 7.12 percent respectively. - Reuters
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