JOHANNESBURG (Reuters) -South Africa’s rand weakened on Tuesday, tracking the U.S. dollar after a mixed batch of trade, budget and money supply data.
At 1530 GMT, the rand traded at 18.8050 against the dollar, about 0.9% weaker than its previous close.
The dollar was last trading up 0.35% against a basket of currencies, after a report from the Labor Department showed hotter-than-expected first-quarter employment cost growth.
South Africa recorded a trade surplus of 7.27 billion rand ($386.56 million) in March, revenue service figures showed on Tuesday. Economists polled by Reuters had expected a trade surplus of 15 billion rand.
It also recorded a budget surplus of 2.07 billion rand in March, compared with a deficit of 56.27 billion rand in the same month a year earlier.
Earlier in the day, South African Reserve Bank data showed South Africa’s March M3 money supply growth was at 6.85% year-on-year and credit growth at 5.18% year-on-year, both higher than expected by economists polled by Reuters.
M3 is a measure of money supply released by the central bank, which includes all currency in circulation, bank deposits and debt securities, among others.
On the Johannesburg stock market, the Top-40 index closed 0.66% lower, while the broader all-share index was down 0.50%.
South Africa’s benchmark 2030 government bond was weaker, with the yield up 1.5 basis points to 10.675%.
South African financial markets will be closed for a public holiday on Wednesday.
($1 = 18.8070 rand)
(Reporting by Bhargav Acharya and Nellie Peyton; editing by Ed Osmond)
