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Markets

South African rand steady amid fragile markets

  • At 0618 GMT the rand traded at 14.3250 per dollar, not far off its previous close of 14.3317
Published July 9, 2021
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JOHANNESBURG: The South African rand was little changed against the dollar early on Friday, with sentiment in wider global markets fragile as the fast-spreading Delta variant of COVID-19 casts a shadow over global economic recovery.

At 0618 GMT the rand traded at 14.3250 per dollar, not far off its previous close of 14.3317.

South Africa's acting health minister Mmamoloko Kubayi-Ngubane on Friday said that the country plans to start COVID-19 vaccinations for people aged between 35 and 49 years old from Aug. 1.

South African rand opens slightly firmer; eyes on Fed minutes

The surge in infections in Africa's most industrialised nation has overwhelmed hospitals, especially in the most populous province of Gauteng, and left overworked healthcare personnel struggling to find enough beds for critically ill patients.

In fixed income, the yield on the benchmark 2030 government bond was down 1.5 basis points at 8.875%.

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