The South African (SA) Rand was subdued in early trade on Monday, as investors awaited a raft of economic data this week, including gross domestic product, current account, mining and manufacturing figures, for clues on the health of the economy.
The Rand traded at 15.9675 against the Dollar, little changed from its previous close, with the market largely shrugging off reserves data.
SA’s net foreign reserves rose to $73.69 billion at the end of August from $71.76 billion in July, central bank data showed on Monday.
Focus will now turn to second-quarter Gross Domestic Product data on Tuesday, followed by current account, mining and manufacturing figures on Thursday.
The greenback last traded flat against a basket of currencies despite a ramp-up in United States rate-hike bets, as tension in the Middle East heightened inflation risks that could force global central banks to tighten policy in tandem.
SA’s benchmark 2035 government bond weakened slightly in early deals, as the yield rose 1 basis point to 8.53%.
–Reuters–
