FILE PHOTO: South African rand coins are seen in this photo illustration

S.Africa's rand firms after better-than-expected current account data

JOHANNESBURG (Reuters) - South Africa's rand was more than 1 percent stronger after central bank data showed the country's current account deficit had narrowed to 3.3 percent of gross domestic product (GDP) in the second quarter.

At 0907 GMT the rand was 1.15 percent stronger at 15.2575 versus the dollar.

The current account deficit narrowed from a revised 4.6 percent of GDP in the first quarter, coming in slightly below the 3.4 percent deficit analysts polled by Reuters had expected.

The yield on South Africa's benchmark government bond maturing in 2026 fell 4 basis points to 9.17 percent, reflecting stronger bond prices.

Stocks were firmer, with the All-share index up 0.47 percent to 57,373 points, while the top-40 index rose 0.50 percent to 51,089 points.

(Reporting by Patricia Aruo; Editing by Alexander Winning and Peter Graff)

First Published: 2018-09-06 09:32:13
Updated 2018-09-06 12:23:11


© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.