The news is by your side.

South African assets weaker in early trade

- Advertisement -


The rand retreated quickly Monday, consistent with falls in local bonds and stocks, as investor appetite for riskier assets was muted.

The rand was 0.27% weaker at 14.19 per dollar at 0702 GMT, having closed in Ny at 14.15.

The currency is predicted to trade between 14.05 and 14.35 on the dollar on Monday, NKC African Economics wrote from a note.

The rand had been supported on Friday by upbeat trade data showing an excess of R8.79 billion in August.

South Africa-focused investors were awaiting the release from the Absa/BER manufacturing Purchasing Managers’ Index (PMI) for September, and also new vehicle sales, on Monday.

In fixed income, the yield over the benchmark government bond due in 2026 rose 2 basis suggests 9.020%, reflecting weaker bond prices.

Stocks were also weaker, when using the Top 40 Index down 0.4% at the beginning of trade.?

Leave A Reply

Your email address will not be published.