South African rand strengthens slightly ahead of key domestic data

The South African rand strengthened slightly in early trading, according to the Business Recorder. The currency was up roughly 0.3% against the dollar, trading at 16.3575.

New data showed South Africa's money supply growth accelerated in August. Private sector credit growth also rose, exceeding forecasts.

Investors are awaiting the release of key month-end domestic economic figures. These include the budget balance, producer inflation, and trade balance statistics.

On financial markets, the benchmark government bond strengthened as its yield fell. The local stock index was flat in early trade.