South Africa’s (SA) Rand held steady ahead of labour market data expected to show a modest rise in unemployment as a challenging operating environment weighed on economic activity in the third quarter of 2026.
The Rand traded at 16.36 against the Dollar, little changed from its previous close of 16.3828.
Domestic investors await unemployment data, to gauge the condition of the labour market of Africa’s biggest economy.
Elevated oil and fuel prices raised businesses’ input costs during the quarter, squeezing profits and dampening confidence in an already difficult operating environment, according to Nedbank economists.
“Against the backdrop, companies may have adopted a more cautious approach to hiring, delaying expansion and recruitment plans,” the bank said.
SA’s official jobless rate currently stands at 33.6%, one of the highest globally.
The country’s statistics agency will publish manufacturing output.
Analysts polled by Reuters expect output to have fallen 2% year-on-year in September, after a 4.3% drop in August.
SA’s benchmark 2035 government bond was slightly firmer in early deals, as the yield fell 1.5 basis points to 8.25%.
–Reuters–
