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The rand changed little on Wednesday as Finance Minister Tito Mboweni delivered the 2021 budget, which included unexpected tax-relief measures during the Covid-19 pandemic. The currency had opened at R14.54 per dollar and gained about 0.9% intraday.
Analysts flagged the record tax shortfall and rising debt costs as risks.
The budget's fiscal risks could pressure the rand over time, which would raise the local cost of imported feed inputs. The immediate market reaction was muted, so there is little near-term feed price impact.
news24.comCompiled by Sibongile KhumaloFeb 24, 2021Not 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.
