JOHANNESBURG (Reuters) -The South African rand was steady against the dollar on Thursday, after the release of third quarter employment data and producer inflation figures.
At 1506 GMT, the rand traded at 17.7225 against the U.S.
dollar, near its previous close.
South Africa’s producer inflation was at -0.1% year on year in November from -0.7% in October, statistics agency data showed, while formal sector employment, excluding agriculture, fell 1.2% quarter on quarter to 10.605 million people in the third quarter of 2024.
The rand had posted gains after data on Wednesday showed the November consumer inflation reading was lower than expected, staying below the central bank’s target range, which could see it cut interest rates further, supporting economic growth.
On the Johannesburg Stock Exchange, the Top-40 index closed about 0.2% lower.
South Africa’s benchmark 2030 government bond was stronger, with the yield down 7 basis points to 8.86%.
(Reporting by Tannur Anders and Bhargav AcharyaEditing by Andrew Cawthorne and Keith Weir)
