Rand firms ahead of local PMI, vehicle sales data

The rand firmed in early trade on Monday, ahead of a local purchasing managers’ index (PMI) survey and new vehicle sales data that could give some clues on the health of the economy.

At 09:16, the rand traded at R18.01 against the dollar.

The dollar index, which measures the currency against six rivals, was last down 0.17% at 112.05.

The Absa PMI survey on South African factory activity and data on September vehicle sales by the auto association are expected later in the day.

The government’s benchmark 2030 bond rose in early deals, with the yield down 2.5 basis points to 10.865%.