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South African rand flat before mid-year budget review
JOHANNESBURG: The South African rand was little changed in early trade on Wednesday as investors avoided taking large positions ahead of the mid-year budget review, which is expected to provide clues on the country’s fiscal outlook and credit-rating prospects. At 0542 GMT, the rand traded at 16.4075 against the dollar , a whisker away from Tuesday’s close. Finance Minister Enoch Godongwana is due to deliver the Medium-Term Budget Policy Statement at around 1200 GMT. Economists expect Godongwana to present an improved fiscal outlook, with a revenue windfall bolstering a push to regain an...
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