JOHANNESBURG: South Africa’s rand softened early on Friday, as markets awaited a flurry of local economic data releases and a key US inflation reading due later in the day.
At 0727 GMT, the rand traded at 18.52 against the dollar , about 0.3% weaker than its previous close.
Trade in the South African currency has been volatile in recent sessions amid local budget disputes and uncertainty over US President Donald Trump’s tariff plans.
Domestic investors will look to trade and budget balance data later on Friday to gauge the health of Africa’s most industrialised economy.
Central bank data earlier showed South Africa’s M3 money supply growth last month was at 7.10%, up from 6.71% in December.
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Credit growth for January came in at 4.59%, from 3.83% in the previous month.
The dollar was little changed against a basket of currencies, as investors eye the Personal Consumption Expenditures (PCE) data – the Federal Reserve’s preferred inflation measure – for clues to its monetary policy trajectory.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded about 1% lower. South Africa’s benchmark 2030 government bond was flat, with the yield at 9.08%.
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