MARKET WRAP: Rand snaps losing streak after ‘surprise-free’ budget

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 63%

South Africa News News

Bonds were also firmer on news of a R254bn debt relief package for Eskom, while the JSE lost ground as the Fed prepares to release the minutes of its most recent meeting

The rand reversed course on Wednesday, breaking two days of losses against the dollar, after finance minister Enoch Godongwana delivered his budget address, which analysts described as “surprise-free”.

Godongwana announced a three year debt relief programme worth R254bn for the stricken power utility, though it comes with strict conditions. They include having to concession its coal-fired power stations once they have been resuscitated as recommended by an international consortium...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: JSE loses steam in line with global marketsJanuary’s rally appears to be losing momentum as investors take profit amid uncertainy about US interest rates
Source: BDliveSA - 🏆 12. / 63 Read more »