Friday, May 29, 2026

South African rand steady ahead of economic data

 

The South African rand was little changed in early trade on Friday as investors awaited monthly data releases from the central bank, the revenue service, and National Treasury for clues on the health of Africa's largest economy.

  • The rand traded at 16.2275 against the dollar USDZAR by 0718 GMT, little changed from its previous close of 16.2375.

  • The South African Reserve Bank is due to release money supply data (ZAM3=ECI) and private sector credit figures (ZACRED=ECI) for April.

  • Nedbank economists said they forecast annual growth in private sector credit to have decreased from 8.5% in March to 8.2% in April because many public holidays in April are likely to have reduced activity.

  • Later in the day, South Africa's revenue service agency and National Treasury are expected to publish trade (ZATBAL=ECI) and budget (ZABUDM=ECI) balance data, respectively.

  • Investec economist Lara Hodes said the trade account is likely to have remained in surplus in April but somewhat narrowed.

  • On the Johannesburg Stock Exchange, the Top-40 index SA40 was up 0.3% in early trade.

  • South Africa's benchmark 2035 government bond (ZAR2035=) was firmer in early deals, with the yield down 6.5 basis points at 8.39%.

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