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Rand flat on Friday – Moneyweb

Simon Osuji by Simon Osuji
June 30, 2023
in Finance
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Rand flat on Friday – Moneyweb
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The rand was flat in early trade on Friday ahead of budget and trade figures later in the day.

At 08:40, the rand traded at R18.75 against the dollar.

The dollar was also little changed against a basket of global currencies.

Earlier on Friday central bank data showed South African private sector credit grew 6.85% year on year in May, while money supply increased 10.30% over the same period.

Monthly budget and trade balances for May are due to be released around 1200 GMT.

Analysts polled by Reuters predict a trade surplus of R6 billion in May, higher than April’s R3.54 billion surplus.

South Africa’s benchmark 2030 government bond was weaker in early deals, the yield up 4 basis points to 10.535%.



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