The rand was close to a nine-month low early on Monday in opposition to a buoyant greenback amid an unsure outlook for additional rate of interest cuts by the US Federal Reserve.
At 9.42am, the rand traded at R19.18/US$. It hit R19.20/$ on Friday, its weakest stage since late April.
The greenback was final buying and selling about 0.21% stronger in opposition to a basket of currencies, after surging to its highest in over two years on the expense of rising market currencies such because the rand.
Information on Friday confirmed US job progress unexpectedly accelerated in December whereas the unemployment fee fell, underscoring the energy of the world’s largest financial system and leaving merchants closely scaling again bets of Fed fee cuts in 2025.
On the inventory market, the Top40 index was down about 1%.
South Africa’s benchmark 2030 authorities bond was weaker, with the yield up 5.5 foundation factors to 9.32%. — Bhargav Acharya, (c) 2025 Bloomberg LP
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