JOHANNESBURG: South Africa’s rand eased on Friday amid choppy trading after starting the year on a strong note.
At 1006 GMT, the rand traded at 18.7775 against the dollar, about 0.3% weaker than its previous close.
After a volatile end to 2024, the rand closed about 0.8% higher on Thursday.
South African rand stable after big losses, mining data ahead
Investor focus will turn towards S&P Global on Monday, which will release its whole-economy purchasing managers’ index (PMI) survey, shedding light on business conditions in Africa’s most industrialised economy in December. On the stock market, the Top-40 index was up about 0.2%.
South Africa’s benchmark 2030 government bond was weaker, with the yield up 1.5 basis points to 9.035%.
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