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South Africa’s rand was little changed early on Monday as investors await Finance Minister Enoch Godongwana’s budget speech later this week, which will provide insights into Africa’s most industrialised economy.
At 07:27 GMT, the rand traded at 18.3575 against the U.S. dollar , near its previous closing level of 18.3525.
Analysts said all eyes will be on the budget presentation to parliament on Wednesday, which will lay out the government’s spending priorities, revenue collection measures and updated economic forecasts for the year.
Analysts polled by Reuters, said South Africa’s budget deficit forecasts will be wider than those in its October estimates for the next three years, a Reuters poll found.
South Africa’s benchmark 2030 government bond was slightly weaker in early deals, with the yield up 1.5 basis points at 9.11%.
Budget 2025 I Expectations ahead of Godongwana’s national budget speech:
