Rand strengthens ahead of Budget, amid US economic jitters

Philippa Larkin philippa.larkin@inl.co.za

The South African rand strengthened against the dollar on Tuesday, buoyed by rising precious metal prices and global economic jitters, as markets awaited Finance Minister Enoch Godongwana’s much-anticipated Budget Speech. As Godongwana prepares to take the podium, analysts and investors alike are watching for signals on how South Africa will balance fiscal discipline with its pressing infrastructure and growth needs. By 6 pm local time, the rand traded at R18.19 to the dollar, up 1.46% from the previous session. The local currency’s resilience was underpinned by a surge in gold prices, a key export for South Africa, amid growing unease over the US economic outlook and simmering trade tensions under President Donald Trump’s administration, according to Trading Economics. Locally, however, all eyes were on the delayed Budget presentation, now set…

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Star South Africa (Digital) - 1 Issue, 2025-03-12

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