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South Africa's rand held cautious gains after Finance Minister Enoch Godongwana's maiden budget said debt would peak lower than expected and spending would grow only modestly. Higher commodity export prices are expected to boost tax receipts, and the rand traded near R15.03 per dollar.
A stronger rand on fiscal credibility lowers the local-currency cost of dollar-priced imports, including feed ingredients, while high commodity prices support South African export earnings.
moneyweb.co.zaRachel Savage, Promit Mukherjee, ReutersFeb 23, 2022Not 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.
