JOHANNESBURG: South Africa’s rand weakened early on Tuesday, ahead of local mining and first quarter unemployment data.
At 0802 GMT, the rand traded at 18.4650 against the dollar , about 0.54% weaker than its previous close.
The dollar last traded about 0.12% stronger against a basket of global currencies. South African investor focus will be on March gold and mining production figures due at 0900 GMT and first quarter unemployment data at 0930 GMT.
Global markets await the latest US inflation print on Wednesday.
On the stock market, both the Top-40 and the broader all-share indexes were little changed in early trade.
South African rand steady ahead of manufacturing figures
Anglo American Platinum’s Johannesburg-listed shares fell as much as 10% and was last down 7.4%, after parent Anglo American said in a strategic review that it was exploring a demerger of its troubled platinum unit.
South Africa’s benchmark 2030 government bond was weaker in early deals, with the yield up 6.5 basis points to 10.530%.
Comments