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Reuters
30-06-2025
- Business
- Reuters
South African rand firms on back-to-back economic data
JOHANNESBURG, June 30 (Reuters) - The South African rand firmed in early trade on Monday after the release of higher than expected money supply and private sector credit figures and ahead of trade and budget balance data due later in the day. At 0642 GMT the rand traded at 17.6950 against the dollar , up about 0.6% from Friday's close. Central bank data earlier showed South Africa's money supply growth last month was at 6.86%, up from 6.12% in April. Credit growth for May came in at 4.98%, from 4.60% the previous month. Nedbank economists had forecast both indicators to show declines year on year. Money supply figures often give insights into consumer demand strength, which could influence trade balance (ZATBAL=ECI), opens new tab data due to be released later in the day. South Africa's trade surplus is expected to widen after exports increased faster than imports last month, Nedbank economists said in their research note. "Imports continue to benefit from a more favourable domestic environment, with lower inflation, declining interest rates and a resilient rand boosting demand," the note said. Investors are also awaiting budget balance numbers (ZABUDM=ECI), opens new tab for the same month. South Africa's benchmark 2035 government bond was stronger in early deals, with the yield falling by 3 basis points to 9.93%.
Reuters
27-05-2025
- Business
- Reuters
South African rand weakens, interest rate decision ahead
JOHANNESBURG, May 27 (Reuters) - South Africa's rand weakened early on Tuesday, with investors focussed firmly on the central bank's impending interest rate decision later this week. At 0827 GMT, the rand traded at 17.9225 against the dollar , about 0.3% softer than its previous close. Economists polled by Reuters expect the South African Reserve Bank (SARB) to cut its main interest rate by 25 basis points to 7.25% on Thursday. South Africa's inflation stayed below the SARB's target range of 3% to 6% in April while the local currency has recovered from its recent losses to trade below 18 per dollar. Central bank data earlier in the day showed South Africa's composite leading business cycle indicator rose 1.1% month on month in March. On the stock market, the Top-40 (.JTOPI), opens new tab index was little changed. South Africa's benchmark 2030 government bond was stronger in early trading, with the yield down 2.5 basis points at 8.865%.
