JOHANNESBURG, June 26 (Reuters) – The South African rand was little changed in early trade on Friday, holding steady even as a firmer dollar and subdued global risk appetite weighed on emerging-market currencies.
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At 0720 GMT, the rand traded at 16.50 against the dollar , a whisker away from its previous close.
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The dollar index , which measures the greenback’s strength against a basket of six major peers, hovered not far from its strongest level since May 2025 as U.S. inflation data kept Federal Reserve rate expectations in focus.
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Prices of South Africa’s key mineral exports fell, with gold down 0.5% and on track for a fourth consecutive weekly decline, while platinum slipped 1.5%.
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“For now, global sentiment remains the dominant driver of USD/ZAR, but local structural risks continue to limit the rand’s upside,” said Andre Cilliers, currency strategist at TreasuryONE.
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Like other risk-sensitive currencies, the rand often takes cues from global drivers.
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On the Johannesburg Stock Exchange, the Top-40 index was down 0.6% in early trade.
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South Africa’s benchmark 2035 government bond was steady in early deals, with the yield at 8.21%.
Reporting by Nilutpal Timsina;Editing by Elaine Hardcastle.
