JOHANNESBURG: South Africa’s rand edged higher on Wednesday ahead of the release of an economic survey that is expected to shed light on the business conditions in Africa’s most industrialised economy.
At 0628 GMT, the rand traded at 17.8925 against the dollar, 0.14% stronger than its previous close.
The March S&P Global South Africa Purchasing Managers Index (PMI) is due to be published at 0715 GMT.
The headline PMI reading will be looked at closely by investors for clues on the health of the local economy amid crippling rotational power cuts in South Africa.
The dollar index, which measures the currency against six rivals, was last up 0.06% at 101.58.
South African rand firms as dollar pares some losses
The government’s benchmark 2030 bond was marginally higher in early deals, with the yield down 1 basis point to 9.870%.
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