# South African Rand Illustrates Mixed Views on Budget and Rating Outlook

> The rand was volatile on Wednesday as investor risk aversion grew over renewed European lockdown fears, and it fell sharply as Finance Minister Tito Mboweni delivered the budget. USD/ZAR rose 1.15% during the session, and analysts were sceptical of the government's growth optimism and the R10.5bn allocation to SAA. Commentary also noted that the budget lacked a concrete plan.

- Date: 2020-10-28 · published 2020-10-28T12:00:00.000Z
- Category: policy · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/50927-south-african-rand-illustrates-mixed-views-on-budget-and-rating-outlook
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand after a doubtful budget raises the local cost of imported feed ingredients for South African buyers. Persistent fiscal concerns could keep the currency under pressure.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/14459-south-african-rand-volatility-illustrates-mixed-views-on-budget-plan-latest-borrowing-forecasts

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