Economy

Rand steady ahead of budget, US meeting

Date: May 20, 2025

South Africa's (SA) Rand was steady on Tuesday, as investor focus turned towards this week's budget speech and a meeting between President Cyril Ramaphosa and his US counterpart Donald Trump.

At 10h11 CAT, the Rand traded at 18.08 against the Dollar, not far from its previous close on Monday. Finance Minister Enoch Godongwana will try to pass a budget for the third time on Wednesday, after his previous two attempts failed to gain the support of some coalition partners over plans to increase taxes.

The SA delegation arrived in Washington on Monday to hold talks with Trump's administration in a bid to reset strained ties between the nations. The meeting between the two heads of state is planned for Wednesday.

--Reuters--

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