South African Rand Stable As Markets Await Budget Speech

South Africas rand was little changed early on Monday as investors await Finance Minister Enoch Godongwanas budget speech later this week, which will provide insights into Africas most industrialised economy.

At 07:27 GMT, the rand traded at 18.3575 against the US dollar, near its previous closing level of 18.3525.

Analysts said all eyes will be on the budget presentation to parliament on Wednesday, which will lay out the governments spending priorities, revenue collection measures and updated economic forecasts for the year.