SA rand falls 0.28%

The South African rand weakened against the US dollar on Monday, with the exchange rate at 18.2050 at 0635 GMT, representing a 0.26% decline compared to the previous close.

Meanwhile, the dollar index, which gauges the dollar’s performance against six key rivals, rose by over 0.2% to reach 103.20.

Analysts suggest that the rand is experiencing volatility, despite a better performance last week.

The South African Reserve Bank is expected to announce its rate decision on Thursday, with a predicted 25-basis-point increase. Early trades show that the government’s benchmark 2030 bond was slightly stronger, with the yield down by 1 basis point to 9.925%.