The South African rand weakened early Monday ahead of a Purchasing Managers’ Index (PMI) survey for the domestic manufacturing sector. At 0620 GMT, the rand was trading at R18.15 to the dollar, down 0.64% from its previous close.
The Absa PMI for November will be released at 0900 GMT and will offer insights into the manufacturing conditions of Africa’s most industrialised economy.
Local investors will also focus on last month’s vehicle sales data later in the day. South Africa’s benchmark 2030 government bond slipped in early trading, with the yield rising by 4.5 basis points to 8.96%.
