The South African (SA) Rand weakened in early trade on Monday as global investors weighed how long the United States (US) government shutdown will last and its potential impact.
The US government has shut down much of its operations, potentially putting thousands of federal jobs at risk, after partisan divisions prevented Congress and the White House from reaching a funding deal.
The Rand, which is often sensitive to shifts in global risk sentiment, traded at 17.2850 against the Dollar, down about 0.2% on Friday’s close.
The Dollar last traded 0.3% stronger against a basket of currencies.
Domestically-focused investors will eye gold and Foreign Exchange Reserves on Tuesday and manufacturing production, figures on Thursday to gauge the health of Africa’s largest economy.
On the Johannesburg Stock Exchange, the Top 40 index was flat in early deals.
SA’s benchmark 2035 government bond weakened, as the yield rose 7.5 basis points to 9.22%.
–Reuters–
