South African rand steady near five-month peak
he South African rand was steady in early trade on Wednesday, holding near a five-month high against the dollar as traders took stock of recent domestic unemployment figures and awaited fresh US inflation data.
At 0630 GMT, the rand traded at 16.19 against the dollar, little changed from its previous close and maintaining levels around its strongest since March 2.
"While the ZAR did test above 16.23, it is back below 16.20 and the longer it stays below 16.25, the more likely that a new range will come into play. How can this be, when local unemployment increased back to 33.6%?," said Adam Phillips, treasury specialist at Umkhulu Treasury.
South Africa's official unemployment rate rose to 33.6% in the second quarter of 2026 from 32.7% in the first quarter, data from the statistics agency showed on Tuesday.
The rand was supported by a weak US jobs report last week that quelled fears of higher interest rates, reigniting risk appetite.
Amid fading expectations of a Federal Reserve interest rate hike next month, investors awaited US inflation data later in the day for clues on the central bank's policy path.
Like other risk-sensitive currencies, the rand often takes its cues from global factors, particularly US monetary policy, alongside domestic economic data.
South Africa's benchmark 2035 government bond was weaker in early deals, as the yield rose 10.5 basis points to 8.41%.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...
VISIT SHOWROOM
The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
