Vanishing inflation expectations fuel South African bond rally
South African rand little changed against dollar
11:07 CAT | 30 Jan 2023
FILE - South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg, [File photo: Reuters/Siphiwe Sibeko]
South Africa’s rand was little changed in early trade on Monday, ahead of a slew of domestic economic data due this week.
At 0607 GMT, the rand ZAR=D3 traded at 17.1950 against the U.S. dollar, not far from its previous close of 17.2050.
This week, local investors will be looking at money supply, trade and budget balance figures for December, in addition to the purchasing managers’ index survey for January by S&P Global for clues on the health of the economy.
The dollar index =USD, which measures the currency against six rivals, was last up 0.05% at 101.94.
The government’s benchmark 2030 bond ZAR2030= was unchanged in early deals, with the yield at 9.665%.
Source: Reuters
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