{"id":36964,"date":"2023-10-30T15:33:37","date_gmt":"2023-10-30T15:33:37","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/?p=36964"},"modified":"2023-10-30T14:52:41","modified_gmt":"2023-10-30T14:52:41","slug":"south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget","title":{"rendered":"South Africa\u2019s rand starts week firm with focus on mid-term budget"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>The South African rand rose in early trade on Monday, the start of a data-heavy week that includes the government\u2019s mid-term budget statement.<\/b><\/p>\n

At 0701 GMT, the rand traded at 18.7900 against the dollar, about 0.4% stronger than its previous close.<\/p>\n

Meanwhile, the dollar edged down 0.08% against a basket of global currencies.<\/p>\n

South Africa\u2019s finance minister Enoch Godongwana will on Wednesday, table in parliament the medium-term budget policy statement (MTBPS), which updates economic forecasts, adjusts the budget and makes emergency changes to spending.<\/p>\n

The rand\u2019s appreciation in recent days is surprising given that Godongwana will likely highlight the deterioration of South Africa\u2019s fiscal position, analysts at ETM said.<\/p>\n

The currency could be drawing strength from more hawkish talk from the South African Reserve Bank, which has left the prospect of another rate hike on the table, they said.<\/p>\n

\u201cThe broader picture remains worrisome, with all eyes turning to the MTBPS to determine if the government has the appetite to implement urgently needed structural reforms,\u201d ETM Analytics said in a research note.<\/p>\n

Central bank data on Monday showed that South Africa\u2019s credit growth had risen to 4.60% in September from 4.39% in August and that M3 money supply growth was at 7.67% in September, down from 8.53% the previous month.<\/p>\n

South Africa\u2019s benchmark 2030 government bond fell slightly in early deals, with the yield up 2.5 basis points at 10.685%.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. The South African rand rose in early trade on Monday, the start of a data-heavy week that includes the government\u2019s mid-term budget statement. At 0701 GMT, the rand traded at 18.7900 against the dollar, about 0.4% stronger than its previous close. Meanwhile, the dollar edged down 0.08% against a basket of global […]<\/p>\n","protected":false},"author":84,"featured_media":36963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,248,249],"class_list":["post-36964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nSouth Africa\u2019s rand starts week firm with focus on mid-term budget - Eswatini<\/title>\n<meta name=\"description\" content=\"The South African rand rose in early trade on Monday, the start of a data-heavy week that includes the government\u2019s m ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa\u2019s rand starts week firm with focus on mid-term budget\" \/>\n<meta property=\"og:description\" content=\"The South African rand rose in early trade on Monday, the start of a data-heavy week that includes the government\u2019s m ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-30T15:33:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/10\/sm_1698664892.234063.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1110\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Africa\u2019s rand starts week firm with focus on mid-term budget\",\"datePublished\":\"2023-10-30T15:33:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget\"},\"wordCount\":249,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/10\/sm_1698664892.234063.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/south-africas-rand-starts-week-firm-with-focus-on-mid-term-budget\",\"name\":\"South Africa\u2019s rand starts week firm with focus on mid-term budget - 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