At 10h25 CAT, the Rand traded at 18.63 against the Dollar, roughly 0.4% weaker than Tuesday's closing level.

Finance Minister Enoch Godongwana will brief reporters from 12h00 CAT on the next steps for the budget after he scrapped a fiercely opposed increase in value-added tax and a court set aside parliament's adoption of the fiscal framework.

Godongwana will have to give a new budget speech with updated revenue and spending projections. The speech is also likely to feature new economic growth forecasts.

--Reuters--