# Rand strengthens slightly on the back of Mboweni's Covid-19-era Budget speech | News24

> 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.

- Date: 2021-02-24 · published 2021-02-24T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/48932-rand-strengthens-slightly-on-the-back-of-mboweni-s-covid-19-era-budget-speech
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

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.

## Sources

- news24.com: https://www.news24.com/business/markets/currencies/rand-strengthens-slightly-on-the-back-of-mbowenis-covid-19-era-budget-speech-20210224

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.