Economy

Rand slips ahead of manufacturing PMI

Date: Oct 1, 2024

The South African(SA) Rand weakened in early trade on Tuesday, ahead of a purchasing managers' index (PMI) for the domestic manufacturing sector.

At 0747 GMT, the Rand traded at 17.32 against the Dollar, about 0.3% softer than its previous close.

The Absa PMI for September is set to be released at 0900 GMT and should shed light on conditions in SA's manufacturing sector.

On the Johannesburg Stock Exchange, the blue-chip Top-40 index traded about 0.6% up.

SA's benchmark 2030 government bond was weaker in early deals, with the yield up 8 basis points to 8.925%.

--Reuters--

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