https://www.engineeringnews.co.za
Africa|Business|composite|Health
Africa|Business|composite|Health
africa|business|composite|health

South African Rand weakens ahead of economic indicator

South African Rand weakens ahead of economic indicator

Photo by Reuters

19th December 2023

By: Reuters

  

Font size: - +

South Africa's Rand was slightly weaker in early trade on December 19, ahead of a leading business cycle indicator release that is likely to provide clues about the economic health.

At 08.18, the Rand traded at 18.5975 against the US Dollar, about 0.1% weaker than its previous close.

The dollar index was last trading up 0.07% at 102.560.

South Africa's composite leading business cycle indicator for October was released at 09.00.

The indicator collects data on vehicle sales, business confidence, money supply and other factors to gauge the outlook for Africa's most industrialised economy.

It is expected to show improvement on a monthly basis but still reflect a year-on-year contraction, confirming that South Africa remains in an economic downturn, said analysts at ETM Analytics.

South Africa's benchmark 2030 government bond was weaker in early deals, with the yield up 6.5 basis points at 9.715%.

Edited by Creamer Media Reporter

Comments

 

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.108 0.163s - 207pq - 2rq
Subscribe Now