2023-09-15 15:59:06
The South African rand strengthened on Friday as the US dollar moved away from its six-month high reached the day before.
At 0636 GMT, the rand traded at 18.9800 once morest the dollar, regarding 0.3% stronger than its previous close.
The dollar index was down 0.18% once morest a basket of currencies.
The rand was little changed since the start of the week, although it lost ground on Thursday following mining figures showed an unexpected drop in production in July.
The rand is expected to move in line with the performance of the dollar on Friday, analysts say, with no major economic events expected in the country.
South African investors will be watching for local inflation figures and the central bank’s interest rate decision next week.
Analysts polled by Archyde.com expect the South African Reserve Bank to maintain interest rates at its September 21 meeting.
South Africa’s benchmark 2030 government bond was slightly weaker in early trading, with the yield up 1 basis point to 10.450%.
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