Cape Town - 101027 - Pravin Gordhan, minister of finance, delivered the Mid Term Budget report today at Parliament in Cape Town - Photo: Matthew Jordaan

Johannesburg - South African Finance Minister Pravin Gordhan said on Thursday the rand has some protection from volatility in the country's major trading partners due to the floating exchange rate.

“We have a floating exchange rate, which will be able to absorb some of the shocks emerging from events that we have little control over at this time,” Gordhan told journalists at a briefing at the revenue service. - Reuters