Rand stable for now, but could be affected by new Cabinet - economist

The rand has been hovering at the R14.30 to the US dollar over the past two days.

Picture: Supplied

CAPE TOWN - The local currency remains stable as the country’s votes are tallied and finalised.

The rand has been hovering at the R14.30 to the US dollar over the past two days.

Economist Isaac Mashego said that no major fluctuations were recorded for the rand.

“There has not been a response to elections or the results so far. What will definitely move the market is the announcement of the Cabinet.”

Financial expert Dawie Roodt agreed. “The results so far are probably the best. The financial market doesn’t like sudden changes. There were some changes and that’s good. But there were no major changes or disruptions that can be expected.”