South African rand little changed at start of data-filled week

South African rand

The South African rand did not show any significant changes in early trade on Monday. This comes before a week filled with the publication of economic data.

At 06:55 GMT, the rand was trading at 18.7950 dollars per dollar, close to its closing price of 18.8000 dollars per dollar.

In the most recent trade, the dollar’s value was almost 0.1% lower against a basket of world currencies.

The experts at Rand Merchant Bank stated in a morning briefing that although this week “starts slow but ends with some top-tier events,” the week will be “neutral.”

On Friday, the globe will be paying attention to inflation figures coming out of several of the world’s largest economies and a speech by the Chair of the Federal Reserve in the United States, Jerome Powell.

Later in the week, the trade and budget balance and supply-side inflation statistics will be of primary importance to local investors.

Much like other risk-sensitive currencies, the rand frequently takes its signals from domestic and international happenings.

The yield on South Africa’s benchmark 2030 government bond increased by 0.5 basis points to 10.200%. The bond’s value was somewhat lower in early dealings.


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