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| ©REUTERS/Mike Hutchings/Illustration |
The South African rand dipped in early trade on Monday as the dollar rose, signaling the start of a week in which trading may be less and market conditions more volatile due to approaching public holidays.
The rand was trading at 18.1350 to the dollar at 0625 GMT, down approximately 0.2% from its Friday close.
The US dollar was up 0.1% versus a basket of competitor currencies.
South Africa celebrates Freedom Day on Thursday, and with Workers' Day the following Monday, many local traders will be absent from their desks from Wednesday's market closure until next Tuesday.
The central bank's leading business cycle indicator for February (ZALEAD=ECI) is released on Tuesday, the March producer price index (ZAPPIY=ECI) is released on Wednesday, and the March money supply (ZAM3=ECI), trade (ZATBAL=ECI), and budget numbers (ZABUDM=ECI) are released on Friday.
The emphasis on global markets was on a spate of central bank policy meetings that might suggest when the sharp hikes in global interest rates would cease.
The yield on South Africa's benchmark 2030 government bond rose 1.5 basis points to 10.135% in early trade.
