South African rand steady as markets weigh mixed economic data

By Reuters News

JOHANNESBURG, Sept 29 (Reuters) - The South African rand was little changed on Tuesday as investors weighed lower oil prices, higher gold prices and domestic economic data for clues about the health of Africa's largest economy.

  • At 1300 GMT, the rand traded at 16.4050 against the dollar , little changed from its previous close

  • Oil prices declined as investors focused on signs of recovering crude exports from the Middle East and lingering concerns about supply disruptions, while gold prices, one of South Africa's key exports, edged higher

  • The South African Reserve Bank said the country recorded foreign direct investment inflows of 49.8 billion rand ($3.04 billion) in the second quarter of 2026, up from 20.3 billion rand in the previous quarter

  • Separately, South Africa's formal sector employment, excluding agriculture, fell 0.1% quarter on quarter to 10.425 million people in the second quarter of 2026, according to the statistics agency

  • "Employment weakness mirrored softer economic activity during the quarter, particularly in manufacturing and trade," Nedbank economists said in a note

  • On the Johannesburg Stock Exchange, the Top-40 index .JTOPI was up 0.4%

  • South Africa's benchmark 2035 government bond strengthened, with the yield down 8 basis points to 8.835%.



($1 = 16.3922 rand)

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