Cape Town – The rand remained stable on Sunday after President Cyril Ramaphosa announced a new Cabinet for the 7th administration, which includes members from multiple parties such as the ANC, DA, IFP, PA, Good, UDM, and FF Plus.
The rand was trading around R18.03 against the dollar on Saturday night, showing minimal movement from earlier in the day.
Finance Minister Enoch Godongwana retained his position, with David Masondo and Ashor Sarupen from the DA appointed as Deputy Ministers of Finance.
This stability in finance leadership is expected to appease the markets, despite recent political volatility affecting the rand.
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