Economy

Rand flat before local jobs data

Date: May 13, 2025

The South African (SA) Rand was little changed in early trade on Tuesday before local jobs data, which economists predict could show a slight rise in unemployment.

The Rand traded at 18.2550 against the Dollar, the same level as at Monday's close.

Statistics SA will release first-quarter unemployment figures.

Investec and Nedbank economists forecast an increase from the previous quarter's 31.9% official jobless rate as economic growth remains sluggish.

The Business Day newspaper reported, that preparations were at an advanced stage for a meeting between President Cyril Ramaphosa and United States (US) President Donald Trump in Washington.

Ramaphosa's government wants to mend diplomatic and trade ties with the US as relations have soured badly since Trump's return to the White House in January. 

SA's benchmark 2030 government bond was also flat in early deals, with the yield at 8.89%. 

--Reuters--

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