JOHANNESBURG (Reuters) -South Africa’s rand was stable on Monday, ahead of local economic data releases this week that could give hints on the health of the local economy.
At 1608 GMT, the rand traded at 17.7150 against the dollar, near its Friday closing level of 17.7100.
The rand, like most emerging market currencies, benefited from a softer dollar on Friday after comments from Federal Reserve Chair Jerome Powell solidified bets of a September rate cut.
South African investors will focus on monthly producer inflation, money supply, budget and trade balance data due later this week for signs on the health of Africa’s most industrialised economy.
On the stock market, the Top-40 index closed down 0.33%.
South Africa’s benchmark 2030 government bond was weaker, with the yield up 1.5 basis points to 9.085%.
(Reporting by Bhargav Acharya and Tannur Anders; Editing by Kirsten Donovan and Barbara Lewis)
