You are currently viewing our desktop site, do you want to visit our Mobile web app instead?
 Registered users can save articles to their personal articles list. Login here or sign up here

Rand flat in early trade

Bonds weaker.

The rand was flat in early trade on Monday ahead of third quarter growth data expected to show Africa’s most developed economy barely expanded.

At 0730 GMT the rand was 0.01% firmer at 14.66 per dollar.

Statistics SA publishes third quarter gross domestic figures on Tuesday at 0930 GMT. A Reuters poll of economists and analysts sees quarter-on-quarter expansion at 0.1% from 3.1% previously, while year-on-year growth is forecast at only 0.4%.

Low growth and its impact on government revenue has seen the country’s credit rating slide in recent years while public debt and unemployment have soared. However, the rand has largely weathered those concerns due mainly to the high yield on offer.

Bonds weakened, with the yield on the benchmark paper due in 2026 adding 2 basis points to 8.475%. 

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   0

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: