Rand weakens as Moody's highlights concerns over Budget

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The local currency had initially strengthened after Finance Minister Tito Mboweni unveiled the plan to cut the public sector wage bill by R160 billion.

JOHANNESBURG - The rand has continued to fall despite initial optimism with Finance Minister Tito Mboweni's budget.

This also came with the news that ratings agency Moody's had highlighted a number of concerns following the budget.

 

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