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The rand and international dollar bonds rose after the 2024 budget said the government would draw R150 billion from the Gold and Foreign Exchange Contingency Reserve Account to limit borrowing. The rand traded at 18.825 per dollar, about 0.5% stronger.
Reduced borrowing eases pressure on South African assets, a modest support for the rand that slightly lowers local import costs for feed.
marketscreener.comReutersFeb 21, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
