AGL 40.05 Decreased By ▼ -0.11 (-0.27%)
AIRLINK 129.74 Decreased By ▼ -1.99 (-1.51%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.62 Increased By ▲ 0.15 (3.36%)
DCL 8.85 Increased By ▲ 0.03 (0.34%)
DFML 41.91 Increased By ▲ 1.30 (3.2%)
DGKC 83.97 Decreased By ▼ -0.11 (-0.13%)
FCCL 32.70 Increased By ▲ 0.36 (1.11%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.50 Increased By ▲ 0.15 (1.32%)
HUBC 110.50 Decreased By ▼ -1.26 (-1.13%)
HUMNL 14.65 Increased By ▲ 0.34 (2.38%)
KEL 5.40 Increased By ▲ 0.18 (3.45%)
KOSM 8.41 Decreased By ▼ -0.57 (-6.35%)
MLCF 39.89 Increased By ▲ 0.46 (1.17%)
NBP 60.45 Increased By ▲ 0.16 (0.27%)
OGDC 198.45 Increased By ▲ 3.51 (1.8%)
PAEL 26.63 Decreased By ▼ -0.06 (-0.22%)
PIBTL 7.71 Increased By ▲ 0.23 (3.07%)
PPL 158.00 Increased By ▲ 2.23 (1.43%)
PRL 26.69 Increased By ▲ 0.01 (0.04%)
PTC 18.40 Increased By ▲ 0.10 (0.55%)
SEARL 82.19 Decreased By ▼ -0.83 (-1%)
TELE 8.34 Increased By ▲ 0.11 (1.34%)
TOMCL 34.45 Decreased By ▼ -0.10 (-0.29%)
TPLP 9.14 Increased By ▲ 0.33 (3.75%)
TREET 17.32 Increased By ▲ 0.62 (3.71%)
TRG 61.30 Decreased By ▼ -1.15 (-1.84%)
UNITY 27.35 Decreased By ▼ -0.09 (-0.33%)
WTL 1.37 Increased By ▲ 0.09 (7.03%)
BR100 10,400 Increased By 213 (2.09%)
BR30 31,653 Increased By 316.8 (1.01%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

JOHANNESBURG: The South African rand was weaker in early trade on Wednesday as the dollar clawed back some losses on global markets, while local credit extension slowed more than expected.

At 0715 GMT, the rand traded at 18.5525 against the dollar, about 0.5% weaker than its previous close.

Central bank data showed private sector credit grew 5.87% year on year in July, down from 6.25% in June.

The dollar gained as investors were looking to labour market data for clues on the U.S. Federal Reserve’s interest rate path.

The rand has been highly volatile since last week’s Jackson Hole Symposium of global central bankers, where Fed Chair Jerome Powell said the U.S. central bank may need to raise interest rates further.

“Markets have been worried since Jackson Hole,” Rand Merchant Bank said in a morning briefing.

Around 1200 GMT on Wednesday, South Africa’s National Treasury will release budget July data, shining a light on the health of the country’s public finances.

On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded up around 0.3% from its Tuesday close. South Africa’s benchmark 2030 government bond was down marginally, the yield up 1.5 basis points at 10.180%.

Comments

Comments are closed.