South African Rand Increases as Dollar Losses are Reduced

Mouad Boudina
Mouad Boudina
1 Min Read
south african

The dollar partially recovered its losses as statistics revealed that manufacturing activity in the United States decreased last month. The rand of South Africa strengthened in early trade on Tuesday.

The South African currency (rand) was 0.1 percent more powerful than its previous finish when it traded versus the dollar at 17.7925 at 06:43 GMT.

The safe-haven currency’s performance against six key rivals is gauged by the dollar index, which was most recently up 0.05% at 102.08.

The rand will once again be influenced by factors on the global stage because no local economic data is due on Tuesday.

Early deals saw a poorer performance from the benchmark 2030 government bond, which saw a 2 basis point increase in yield to 9.885%.

Mouad Boudina

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