Economic data released by Statistics South Africa this week highlighted an economy struggling at the start of 2023, weighed down by crippling power cuts. Statistics South Africa will publish February inflation figures next week, which will give more clues about the health of Africa’s most industrialised economy. The government's benchmark 2030 bond was stronger, with the yield down 6.5 basis points at 10.035%. (Reporting by Alexander Winning and Tannur Anders; Editing by Eileen Soreng, Anait Miridzhanian)
(Updates to reflect afternoon trade)
JOHANNESBURG, March 17 (Reuters) - The South African
rand was flat on Friday after a volatile week fuelled by fears
of a global banking crisis and the implications for monetary
policy.
At 1625 GMT, the rand traded at 18.4225 versus the dollar , 0.1% stronger than its closing level on Thursday.
Investor sentiment remained fragile after turbulence sparked
by the failure of Silicon Valley Bank and concerns over Credit
Suisse despite a $54 billion lifeline for the bank.
The Johannesburg Stock Market closed lower, with the
blue-chip Top-40 index falling 0.66% and its broader
all-share index sliding 0.52%.
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