In early trade the rand was at R18.81 to the dollar.
The rand gained slightly in early trade on Monday, ahead of a week of data releases which include the country’s second quarter gross domestic product and current account. At 0655 GMT, the rand traded at R18.81 against the dollar. The dollar last traded around 0.11% weaker against a basket of global currencies.
On Thursday, the South African Reserve Bank will release the country’s second quarter current account and GDP data. “The economy held up better than expected in Q2, as load shedding was less severe than in Q1,” said Nedbank’s Group Economic Unit in a research note, referring to the country’s rolling blackouts. Nedbank said it is predicting quarter-on-quarter GDP growth of 0.
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