South African rand edges up at start of data-filled week

The South African rand edged up against a weaker dollar in early trade on Monday, at the start of a packed week for local economic data.

At 0645 GMT, the rand traded at 18.5750 against the dollar , about 0.2% stronger than its closing level on Friday.The rand gained roughly 2% last week, mainly taking its cue from offshore factors.

"The rand is, unfortunately, merely a passenger in the global current of macro developments," Rand Merchant Bank analysts said in a research note, adding that the currency would probably stay volatile in the months ahead "as the dictates terms for global asset prices via the dollar".

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ReutersAfrica /  🏆 31. in ZA

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