Rand boosted by rise in risk-on sentiment

The rand inched up against the dollar on Monday after encouraging economic data from China assuaged concerns about a global economic slowdown and boosted appetite for riskier assets.

The rand was at 13.91 versus the greenback by 0657 GMT, a 0.36% rise from Friday’s close.

Stocks opened higher, with the Johannesburg Stock Exchange’s all-share index up 0.29% to 57 441 points at 0801 GMT.

Government bonds also strengthened, with the yield on benchmark 2026 instrument falling by 2.5 basis points to 8.035% by 0659 GMT.