South African rand eases in choppy trading

JOHANNESBURG: South Africa’s rand eased on Friday amid choppy trading after starting the year on a strong note.

At 1006 GMT, the rand traded at 18.7775 against the dollar, about 0.3% weaker than its previous close.

After a volatile end to 2024, the rand closed about 0.8% higher on Thursday.

South African rand stable after big losses, mining data ahead

Investor focus will turn towards S&P Global on Monday, which will release its whole-economy purchasing managers’ index (PMI) survey, shedding light on business conditions in Africa’s most industrialised economy in December. On the stock market, the Top-40 index was up about 0.2%.

South Africa’s benchmark 2030 government bond was weaker, with the yield up 1.5 basis points to 9.035%.