https://newsletter.en.creamermedia.com
Business
Business
business

Rand recovers some ground with coalition's future the focus

Hands holding South African banknotes

Photo by Bloomberg

8th April 2025

By: Reuters

  

Font size: - +

The rand strengthened in early trade on Tuesday, recovering some of the ground it lost a day earlier, with the future of the country's multi-party government the main focus.

At 0706 GMT, the rand traded at 19.44 against the dollar, 1% firmer on the day after falling about 2.7% on Monday.

The two biggest political parties in the ruling coalition, the African National Congress (ANC) and Democratic Alliance (DA), held meetings of their senior officials on Monday to discuss the way forward after disagreements over the budget.

Despite weeks of negotiations the two parties could not agree a common strategy on the budget, leading to the pro-business DA voting against the fiscal framework in parliament and some ANC figures pushing for the DA to leave the government.

At 0900 GMT, the ANC will brief reporters on the outcome of its discussions on Monday.

A DA spokesperson confirmed the party's Federal Executive met on Monday, but said it had not yet taken a decision on its position in the coalition, referred to locally as the Government of National Unity.

Local news website Eyewitness News reported that the ANC had resolved to continue negotiations with coalition partners, including the DA, and had reached out for talks.

The benchmark 2030 government bond was slightly stronger in early deals, as the yield fell 5 basis points to 9.325%.

Edited by Reuters

Comments

Showroom

Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Lion Alcolmeter® 700
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 04 July 2025
Magazine round up | 04 July 2025
4th July 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.069 0.163s - 202pq - 2rq
Subscribe Now