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The South African rand hovered around 16.4 per USD, close to its highest level since September 23, after Finance Minister Enoch Godongwana unveiled the medium-term budget statement that provides for a temporary reduction in the fuel levy amid rising fuel prices. Meanwhile, the statement underscored the government’s com
The South African rand traded around 16.3 per USD, holding close to the lowest since early August, amid a firmer dollar and falling prices of key precious metals. Domestically, investors awaited August consumer inflation data and the SARB’s policy decision, both due on September 23. Inflation eased to 4.3% in July, mar