Rand trades for 16.99 Dollars
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Rand trades for 16.99 Dollars

Prior to the release of second-quarter unemployment figures, which may provide insight into the state of the regional economy, the rand remained stable in early trading on Tuesday.

At 8:07, the rand was trading for 16.99 dollars.

Investors will be watching the unemployment rate for the second quarter and a leading economic indicator that will be released later in the day.

The dollar index, which compares the value of the dollar to six other currencies, reached a high of 109.12 but was unable to surpass the two-decade high of 109.29 set in July as investors flocked to the safe haven currency in response to wider fears about economic growth.

The yield on the 2030 benchmark South African Government Bond went down 1 basis point to 10.305% in early trading, remaining almost constant.

 

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