JOHANNESBURG: The South African rand was little changed on Friday, with the global focus on US-China trade talks this weekend after a US deal with Britain raised hopes for progress in tariff talks with other countries.
At 0755 GMT the rand traded at 18.18 against the dollar, not far from Thursday’s close of 18.2075.
The currency has been highly volatile in recent weeks, slumping to a record low last month due to US President Donald Trump’s tariffs and domestic budget disputes before recovering on signs that South Africa’s coalition government will hold.
South African rand flat with global focus on US rate decision
Finance Minister Enoch Godongwana will present a revised budget on May 21 after scrapping a proposed value-added tax increase, the most contentious element of earlier budget versions.
Analysts say the rand will be sensitive to any headlines on further budget changes.
The benchmark 2030 government bond was also broadly flat in early deals, with the yield down 1 basis point to 8.84%.
Comments
Comments are closed for this article.