The South African rand traded flat on Monday as investors positioned ahead of the country’s second-quarter GDP report due Tuesday. The local currency was at 17.58 per U.S. dollar by 06:28 GMT, showing a modest 0.2% uptick from Friday’s close, figures tracked by Reuters showed.
Market participants are also eyeing a wave of data expected later this week, including mining, manufacturing, and current account statistics, which could provide broader insight into South Africa’s economic trajectory. In the first quarter, GDP expanded just 0.1%, with agricultural gains offset by contractions in manufacturing and mining, Reuters reported.
On the debt side, the benchmark 2035 government bond yield slipped 1.5 basis points to 9.55%, reflecting cautious confidence in the market as investors await fresh economic signals, data from Reuters further indicated.
